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Almaty. July 12. Kazakhstan Today - World market copper prices are rising. The average price of cash metal at the London stock exchange (LME) for June made $7475, on average for the last days of July - $7926, and on July 11 - $8041 per ton. At the same time in the warehouses attributed to LME, stocks of copper for the last month decreased from 119 down to 99 thousand tons. This month the price of copper reached the level of $8000 for ton. Further reduction of stocks and danger of strikes in mines of South America and Mexico can cause further rise in prices. For the last days the world market of copper has already been experiencing influence of strikes in Chilean companies Codelco and Collahuasi. In this connection London investment bank Standard Bank has reconsidered the estimations of deliveries in the market of copper for 2007 and 2008 due to increased possibility of strikes in the branch seriously influencing manufacture of copper in the world.


Resourse: Kazakhstan Today







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