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.
City broker UBS says global mining firm BHP Billiton’s (LON:BLT) June production figures were slightly better than expected and gives the stock an unchanged 12 month rating of a ‘buy’ with a target price of £28.40.
The mining giant released the figures yesterday across the spectrum of its resources, including iron ore production up 14 percent year-on-year in the final quarter.
