Copper Prices Hit Four-Month Lows
May 25 2012 - 8:20AM
Marketwired
Commodity prices across the board continue to slide on concerns of
slowing growth in China and Greece leaving the Euro signaling
weaker demand for the metal. Copper prices hit four-month lows
Wednesday. Copper on the Comex in New York touched $3.3865, the
lowest it has been since Jan. 9. The Paragon Report examines
investing opportunities in Copper Industry and provides equity
research on Teck Resources Limited (NYSE: TCK) and Taseko Mines
Limited (NYSE: TGB) (TSX: TKO).
Access to the full company reports can be found at:
www.ParagonReport.com/TCK www.ParagonReport.com/TGB
"Given this gloomy backdrop, we expect that markets will
continue to be on the defensive for much of this week, at least
until we see more specifics coming out from the EU policy meeting,"
Edward Meir, an analyst at INTL FCStone, said in a report. If
Greece leaves the euro China's economy may be faced with the worst
growth in over two decades, economists at China International
Capital Corp said in an email report Wednesday. China is currently
the world's biggest copper user and will see growth slow to 8.2
percent in 2012 from 9.2 percent in 2011 according to the World
Bank.
Paragon Report releases regular market updates on the Copper
Industry so investors can stay ahead of the crowd and make the best
investment decisions to maximize their returns. Take a few minutes
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Teck currently owns, or has an interest in, 13 mines in Canada,
the USA, Chile and Peru, as well as one metallurgical complex. They
are actively exploring for copper, zinc and gold in the Americas,
Asia Pacific, Europe and Africa. The company achieved record first
quarter revenues and gross profits of $2.5 billion and $918
million, respectively, in the first quarter of 2012.
Taseko Mines is focused on the production of copper and
molybdenum from the Gibraltar mine and on permitting the New
Prosperity gold and copper project. The company recently reported
revenues for the first quarter 2012 were $55.4 million from the
sale of 12.8 million pounds of copper and 354 thousand pounds of
molybdenum.
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