copperstocks
The first quarter of 2024 began with copper prices remaining steadfast, staying within the US$8,000 to US$8,500 per metric ton (MT) range. However, the end of the quarter saw the red metal gain momentum on the LME and surge to a quarterly high of US$8,973 on March 18 before moving to set a two-year high on the London Metal Exchange of US$9,869 on April 30. The dramatic gains came on the back of tightening concentrate supply to Chinese smelters, who cut supply as competition between upgraders caused treatment charges to fall to their lowest point since 2010. While supply for refined copper was ...
Investing News Network
Coming off a volatile 2023, copper started the new year trading in the US$8,000 to US$8,500 range in January and February. However, the red metal saw significant gains starting at the end of February and through March as news of production cuts from Chinese smelters began to make headlines. The cuts came as supply for concentrates became tight, sending treatment charges to their lowest point since 2010. The results of the cuts pushed the price of copper on the London Metal Exchange to a quarterly high of US$8,973 per metric ton (MT) on March 20. The price has continued to see gains and reached...
Investing News Network
First Quantum Minerals (TSX:FM,OTC Pink:FQVLF) reported its Q1 results on Tuesday (April 23), revealing a net loss of US$159 million (US$0.21 per share) and an adjusted loss of US$154 million (US$0.20 per share). The company's gross profit came in at US$156 million, with EBITDA at US$180 million, both lower than last year. These downturns have been attributed to disruptions at First Quantum's Cobre Panama mine, which led to it being taken offline and placed in a preservation and safe management phase in November 2023. With those circumstances in mind, First Quantum emphasized its commitment to...
Investing News Network
Copper stocks and copper prices have exploded. Short term anything can happen because the end of the copper cost curve is very steep. A monte carlo simulation shows copper prices can easily go above $4. Q3 2020 hedge fund letters, conferences and more I'll just wait for copper to get back to below production costs. That usually happens when the world is about to end - fortunately for us value investors the world is about to end every few years - consequently copper prices and especially copper stocks tank. The following is a computer generated transcript and may contain some errors. Copper Pri...
ValueWalk
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