Kazakhmys Sees Copper Prices Down on China Slowdown-Shanghai Metals Market

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Kazakhmys Sees Copper Prices Down on China Slowdown

Industry News 03:17:42PM Jun 30, 2010 Source:SMM

ASTANA June 30 (Reuters) - Kazakhstan-based metals group Kazakhmys PLC (KAZ.L) expects copper prices to fall in the wake of an economic growth slowdown in China, the world's biggest copper consumer, the company's head said on Wednesday.
 
"China is not showing the growth rates that had been expected by investors. Consequently demand for metals and other types of commodities will start declining," Eduard Ogai told an international mining congress.

Kazakhmys, one of the world's 10 biggest copper producers, sees fair copper price at $5,500 per tonne, Ogai added. 
 

Key Words:  copper Cu  copper price 

Price

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#1 Refined Cu
Apr.19
49430.0
-170.0
(-0.34%)
Yangshan Copper Premium(Bill of Lading)
Apr.19
51.5
0.0
(0.00%)
Yangshan Copper Premium(Warehouse Warrant)
Apr.19
50.5
0.0
(0.00%)
Imported Cu Concentrate TC(Cu≥26%,Week)
Apr.19
67.0
-1.5
(-2.19%)
Imported Cu Concentrate TC(Cu≥26%,Month)
Mar.29
73.5
-6.0
(-7.55%)

Kazakhmys Sees Copper Prices Down on China Slowdown

Industry News 03:17:42PM Jun 30, 2010 Source:SMM

ASTANA June 30 (Reuters) - Kazakhstan-based metals group Kazakhmys PLC (KAZ.L) expects copper prices to fall in the wake of an economic growth slowdown in China, the world's biggest copper consumer, the company's head said on Wednesday.
 
"China is not showing the growth rates that had been expected by investors. Consequently demand for metals and other types of commodities will start declining," Eduard Ogai told an international mining congress.

Kazakhmys, one of the world's 10 biggest copper producers, sees fair copper price at $5,500 per tonne, Ogai added. 
 

Key Words:  copper Cu  copper price