Spectacular copper price rally only gaining momentum
A double digit runup in copper just in April lifts the orange metal to within sight of $10,000/tonne as warnings prices are running ahead of fundamentals emerge.
A double digit runup in copper just in April lifts the orange metal to within sight of $10,000/tonne as warnings prices are running ahead of fundamentals emerge.
This breakout rally is exceptional because gold’s usual drivers aren’t fueling it.
Among the five frontrunners for presidency, three have vowed to continue with the plans to close the Cobre Panama mine.
The impact of fund flows on the current price dynamics may be a harbinger of things to come.
Through its investment fund Manara Minerals, Saudi Arabia is seeking at least a 25% interest in the Reko Diq copper and gold project.
Last month, Redwood Materials flipped the switch on its first commercial-scale line producing a fine black powder essential to electric vehicle batteries.
Japanese trading houses Mitsui and Sumitomo have also been studying the assets, Bloomberg said.
The company has an arrangement with Eight Capital, on behalf of a syndicate of underwriters, who have collectively agreed to purchase approximately 21.1 million common shares.
Near-term ore demand will remain solid as mills show increasing willingness to resume production after an improvement in margins and downstream demand, said analysts.
Rinehart amassed a 5.82% stake in Lynas via her private company Hancock Prospecting Ltd.