U.S. Copper Usage Down in 2003: “The 2003 [copper usage] level of 6,984 million pounds is a 4.6% decrease from the revised 2002 level of 7,324 million pounds.
U.S. copper mine production dropped slightly by 2.0% to 2,460 million pounds from last year’s 2,512 million pounds”
Yahoo! News – Noranda enters buyout talks: “Toronto-based Noranda, 43 per cent owned by Canadian conglomerate Brascan, is the world’s third-biggest zinc producer and ninth-biggest copper producer. It also produces nickel and primary aluminium.
Increasing Chinese demand for commodities, lack of new metals supply and consolidation in the industry provided ‘an opportune environment to review our options’ to increase value for Brascan and Noranda shareholders, said Bruce Flatt, Brascan chief executive.
Brascan made clear two years ago that it wished to sell its stake in Noranda to focus on real estate, power generation and asset management. Brascan said yesterday it was ‘supportive’ of Noranda’s efforts to find a buyer. “
Yahoo! News – Noranda, CCR Copper Union in Tentative Labor Deal: “Metals markets were watching the talks closely, nervous of any strikes or supply disruptions at a time when copper supply and demand is balanced on a knife edge. Copper prices are up 20 percent this year after a 50 percent surge in 2003, mainly due to voracious Chinese demand. “
Forbes.com: Falconbridge shuts down copper smelter early: “Falconbridge said the smelter will be unable to meet its contractual commitments to customers in the near term. “
Ain’t that a kick in the head? Yahoo! News – U.S. Mint Ups Coin Set Prices Due to Metal Cost Rise: “The U.S. Mint has increased the price for collector proof sets and American Eagle coins between $2 and $6 to reflect higher costs for silver, zinc, nickel and copper. The price hike marks the first time since 1998 that the Mint has boosted prices for collectibles. “
Donner Minerals Ltd.: Drilling Underway at Stephens Lake: “The Stephens Lake Project (in Manitoba) is a joint exploration effort by Donner and Falconbridge Limited focused on exploring for magmatic nickel, copper and platinum group element deposits. “
Yahoo! News – Commodities volumes show no sign of slowing: “The increase in commodities trading has coincided with a sharp rise in demand for raw materials due to the first synchronised global economic upturn since the 1980s and the emergence of China as a significant consumer.
The London Metal Exchange, the world’s largest non-ferrous metals exchange, reported an 11 per cent rise in futures and options trading in February from the same month last year. In the past week copper, aluminium, tin, lead and zinc have all broken long-term price highs. Last year, the LME reported its most active year in its 126-year history. “
Now here’s something I bet you didn’t know … did you know that an American Nickel isn’t made only of nickel? It isn’t even mostly nickel … Yahoo! News – U.S. Mint Rolls Out New Nickels: “Vending machines will be able to accept the new nickels because their composition ? 75 percent copper and 25 percent nickel ? and their size remains the same, Mint officials said”
As it turns out, the same is now true for the Canadian Nickel. It wasn’t always so, though.
Starfield – Wyn expand Joint Venture property and plan 2004 exploration program at Ferguson Lake, Nunavut: “magnetic anomalies possibly associated with extensions to the Ferguson Lake Mineral District which hosts Copper – Nickel – Cobalt – Palladium – Platinum – bearing massive sulphide resources “
Forbes.com: Commodities – Copper near 8-year high, soybeans sink: “Copper prices rose to the highest level in almost eight years on Thursday as the outlook for tight supplies with economies expanding in China and the United States kept speculators on the buy side.
In other commodity markets, corn and soybean prices fell “
Now if only I could stamp soybeans ….