Copper prices may go up again
Sunday, 24 October 2010
LONDON, Oct 23 (Commodity Online): Copper production prices are set to shoot up in the coming days. An Indication to this effect was given by the world's second biggest copper producer Arubis.
The company said that the fees for processing crushed ore paid by miners to smelters are set to increase in the coming year as supply swells.
Arubis said spot charges have already more than doubled over the last 3 months to reach $80 per tonne or 8 cents per pound since greater supply of concentrates has decreased competition for raw materials.
The market is in surplus which is a departure from the scenario in recent years when supply was limited due to delayed mining projects after the financial crisis and increased smelting capacity in China, the industry leader. The company said the market would be rather balanced in 2011.
The company said that the fees for processing crushed ore paid by miners to smelters are set to increase in the coming year as supply swells.
Arubis said spot charges have already more than doubled over the last 3 months to reach $80 per tonne or 8 cents per pound since greater supply of concentrates has decreased competition for raw materials.
The market is in surplus which is a departure from the scenario in recent years when supply was limited due to delayed mining projects after the financial crisis and increased smelting capacity in China, the industry leader. The company said the market would be rather balanced in 2011.