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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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China's consumption of copper to grow almost 7 percent this year, metal specialist says

Apr 17, 2012 04:29 PM

China, the globe's top customer for copper with consumption of the world's supply estimated at 40 percent, is set to increase demand this year for the reddish metal by almost 7 percent, the top official of a mining firm told Reuters on Tuesday.

Charlie Sartain with Xstrata said demand from the Asian nation for the industrial metal will trump damages wrought by the sovereign debt scourge in the euro zone.

"We see an underlying strength in (copper) demand growth in China," the copper unit head told the news source during an interview at the CRU copper conference in the capital of Chile. "We see some positive demand signs in the U.S. ... That's helping to offset the difficulties Europe is having."

The performance of copper futures on Tuesday went both ways amid economic data released by the U.S. that was positive and negative, according to Dow Jones Newswires. Industrial production was even in March, marking the second straight month of flat generation. Home construction slipped 5.8 percent from February to March, a second consecutive drop.

At 4: on Tuesday, copper futures gained 0.48 percent, a 1.75 cent lift to $3.6535 per pound.

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