Copper, leading indicator for growth

December 1, 2017

Over the last 7 years the copper market has generally assumed the role of long term macroeconomic indicator. Going into the Sub-Prime Crisis, copper prices registered some surprising gains, and they appeared to have forged a major top above the $4.25 level. Considering that prior to 2005 copper had never traded above $1.60, see copper […]

Biggest gem found in a century finally sells for $53mn

Businessam StaffSeptember 26, 2017

Size isn’t everything in the diamond market, especially for the biggest gem found in more than a century and which took more than a year to sell. Lucara Diamond Corp. finally sold the 1,109-carat Lesedi La Rona diamond for $53 million, or $47,777 a carat, on Monday to Graff Diamonds, Vancouver-based Lucara said in a […]

Copper supported by supply disruptions, weak dollar

Businessam StaffJuly 24, 2017

  Copper closed above the psychologically important $6,000 level again on Monday as the dollar hovered near 13-month lows and mine disruptions fuelled concerns about falling supply. Benchmark copper on the London Metal Exchange closed 0.4 percent higher at $6,027 tonnes. On Friday it had briefly touched $6,051, its highest since March 1. “Copper is […]

Coal to resume long-term decline after China-induced price spike

Businessam StaffJuly 24, 2017

Coal prices’ march to eight-month highs, driven by China’s huge appetite for power consumption, looks like an interlude in a longer-term decline and is seen losing traction later this year. Investors widely anticipate a slow demise for coal use due to policies encouraging cleaner natural gas and renewable energy generation, but the shorter-term outlook for […]

Market prices in expected copper deficit deepening on more strikes

Businessam StaffJuly 17, 2017

A global deficit of copper will deepen this year as more mines in South America are due to be hit by strikes, although the market has already priced in the further disruptions, a Reuters poll showed. Earlier in the year the copper market was hit by a long strike at Chile’s Escondida, the world’s largest […]