ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

BLT Bhp Billiton

1,573.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bhp Billiton LSE:BLT London Ordinary Share GB0000566504 ORD $0.50
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1,573.00 1,571.40 1,572.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Copper Falls on Weak Demand

23/02/2017 12:09pm

Dow Jones News


BHP Billiton (LSE:BLT)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more BHP Billiton Charts.
By Katherine Dunn 

LONDON--Copper prices fell on Thursday as weak demand outweighed lingering supply concerns over mine closures in Chile and Indonesia.

The three-month London Metal Exchange copper price was down 0.90% at $5,973 per metric ton in midmorning trade on Thursday.

"Supply side concerns are still supporting prices, but physical buying is quiet," said Robin Bhar, an analyst at Société Générale.

In Chile, the union strike at the Escondida mine, the world's largest copper mine, is about to enter its third consecutive week. After 30 days workers can return individually back to work. The mine is majority-owned by BHP Billiton Ltd.

There are still no signs of agreement between the workers and management, said Commerzbank in a note. The bank estimated that the two weeks of striking had taken 41,000 tons of copper out of the supply chain.

A dispute over an export license for Freeport-McMoRan Inc.'s Grasberg mine in Indonesia has also stifled production.

However, those concerns have been dampened by weak demand and ample stockpiles, noted Mr. Bhar. Analysts and traders are now waiting to see how long the strike at the Escondida mine lasts.

Nickel has also been affected by concerns about future supply, after the government of the Philippines said it would close 23 mines and suspend another five.

On Thursday, the technical working group of the country's Mining Industry Coordinating Council (MICC), said it would launch a program in response to complaints by the mining industry about the suspensions.

All the base metals were lower. Nickel was down 0.84% at $10,640 per metric ton, aluminum was down 0.74% at $1,879 per ton, lead was down 0.75% at $2,263.50 per ton, zinc was down 1.12% at $2,826 per ton, and tin was down 0.75% at $19,150 per ton.

Cris Larano contributed to this article.

Write to Katherine Dunn at Katherine.Dunn@wsj.com

 

(END) Dow Jones Newswires

February 23, 2017 06:54 ET (11:54 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.

1 Year BHP Billiton Chart

1 Year BHP Billiton Chart

1 Month BHP Billiton Chart

1 Month BHP Billiton Chart

Your Recent History

Delayed Upgrade Clock