Copper prices fell on Tuesday, on worries that China’s determination to stick with its strict covid-19 rules could dampen economic growth and demand for metals. Copper for delivery in December fell 1.8% on the Comex market in New York, touching $3.35 per pound ($7,379 per tonne). The most-traded November copper contract on the Shanghai Futures Exchange (ShFE) declined 0.9% to 62,650 yuan ($8,702.60) per tonne. Chinese President Xi Jinping reiterated the validity of China’s zero-covid policy, which includes lockdowns and movement curbs to prevent the spread of coronavirus, at the Communist Party Congress… Read More Here

Copper prices struggled to find momentum on Monday as global supply worries countered demand uncertainty stemming from growth slowdown worries and China’s stance on covid-19 curbs. Copper for delivery in December fell 0.05% on the Comex market in New York, touching $3.42 per pound ($7,524 per tonne). The most-traded November copper contract on the Shanghai Futures Exchange climbed 0.5% to 63,280 yuan ($8,797.32) a tonne. Total copper production in Chile, the world’s top copper producer, fell 10.2% in August to 415,500 tonnes. Uncertainty around demand in China, however, persists. Chinese… Read More Here

Barrick Gold (TSX: ABX)(NYSE: GOLD) said on Monday it had achieve a significant legal milestone to proceed with the development of the giant Reko Diq copper-gold deposit in Pakistan, close to the borders of Iran and Afghanistan. During a four-day visit to the country, president and chief executive Mark Bristow held discussions with several stakeholders, which finished with all the documents needed to start building Reko Diq being approved by the country’s president Arif Alvi. Paperwork was filed on Saturday with the supreme court, Barrick said, adding that once that transaction is completed, the… Read More Here