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More matter with less art

Real copper news

Much noise in the market, from the wailing of the hurt longs to the shrilling of the “buy more!” brigade. However, buried under all the inconsequential claptrap your author has managed to uncover some real, interesting and fundamentally significant news on copper metals and mining. It’s from Reuters and the first part is pasted right here:

HAMBURG Dec 16 (Reuters) – Germany’s Aurubis , Europe’s biggest copper producer, has agreed long-term copper treatment and refining charges (TC/RCs) for 2012 of $63.50 a tonne and 6.35 cents a pound, up 12.4 percent on 2011 deals, sources close to the company said on Friday.
This means Aurubis has matched the higher TC/RCs for 2012 reached in early December by Freeport McMoRan Copper & Gold .
TC/RCs are paid by miners to smelters to refine concentrate into metal and are a key part of the global copper industry’s income. Increases are being sought as smelters believe demand for metal and mining output will continue to rise in 2012.
There was still doubt in past days whether the Freeport level would be accepted as a benchmark for 2012.
Chinese copper smelters were still seeking to convince BHP Billiton , the majority owner of the world’s biggest copper mine, to (continues here)

And if you don’t think that’s important, your humble scribe humbly suggests that you just continue reacting to the market instead of acting upon it…like you’ve always done.

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