27.03.2015 - Copper rebounds as Chile closes mines
Copper rebounded as torrential rain in Chile closed some of the biggest mines in the world’s largest producer of the metal. Copper rose as much as 0.5 percent after snapping the longest rally in six weeks on Wednesday. Some of the world’s largest copper mines were forced to shut down as torrential rain in the Atacama Desert of northern Chile closed roads and flooded towns. Codelco, the world’s biggest copper producer, shut all of its Atacama mines including Chuquicamata and Radomiro Tomic, according to the state-owned company. “Copper supply expectations have been revised again after news that rains in Chile forced mines shut,” said Fang Junfeng, an analyst at Shanghai Cifco Futures Company. “The market is entering a peak consumption season in the northern hemisphere.”..............................................Full Article: Source
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