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Xstrata Says China Copper Demand to Recover, Reducing Stocks
Apr. 05, 2011 02:53PM PST
Base Metals Investing Bloomberg reports that Xstrata Plc (LON:XTA) announced that a build-up in copper stocks is the cause for copper’s worst first quarter in a decade.
Bloomberg reports that Xstrata Plc (LON:XTA) announced that a build-up in copper stocks is the cause for copper’s worst first quarter in a decade.
The market news is quoted as saying:
Copper prices jumped about 30 percent last year as mining companies struggled to meet rising demand. The metal fell 1.8 percent in the first quarter of this year, the biggest decline for the period since 2001, as Chinese buyers consumed existing stockpiles and the country boosted scrap imports.
