copper
Copper prices have been soaring since the beginning of this year, rising by 29% year-to-date. Copper futures at COMEX traded at $5 per pound as of 15 May, marking the highest level since March 2022 when the base metal's price reached an all-time high. BHP's takeover offer to Anglo American has brought attention to the prosperous copper mine sector. The transition towards green energy, the rise of electric cars, and the AI boom have all contributed to a surge in demand for copper. However, underinvestment in base metal mining could exacerbate the issue of undersupply in the coming years. China ...
Euronews (English)
BHP has made an offer of £31 billion (around €36 billion) to merge with its smaller UK competitor Anglo American. The proposal comes after Anglo American, which had a $37.7 billion (€35.23 billion) market value at Wednesday's close, noted a 94% decrease in profits last year. As part of the takeover offer, BHP said it would offer Anglo's stockholders £25.08 per share. The deal, which would be one of the biggest mining mergers in years, could allow BHP to become the world's largest copper producer. Anglo has significant mines in South Africa and also operates sites in countries like Chile, Austr...
Euronews (English)
Copper prices jumped to their highest in 15 months in April, touching $4.3 (€4.01) per pound, before settling at $4.2 per pound on Thursday morning. This was a weekly rise of 1.61% and a monthly increase of 9.05%. This is mainly due to worries about lower supply, as well as steadily increasing demand. Chinese smelters are the key reason why copper supply is quite drastically reduced at the moment, as several smelters cut production. Furthermore, upcoming regulation could potentially see Chinese smelters slashing output by up to 10% in 2024. Tightening availability of key copper ore because of ...
Euronews (English)
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