Copper market’s biggest whale fuels speculation of a major shift
The world’s single biggest buyer of copper, State Grid Corp. of China, has slowed its purchases of copper wire this year.
Norwegian aluminium group Norsk Hydro plans to shut down a plant in Jamaica and lay off 80 employees in its home market, saying it did not rule out further output cuts in a stubbornly tough market.
The company has been hit hard by falling demand for its products from customers battered by the economic slump, notably in the auto and construction industries, and has announced several production cuts….more at MEIOnline
