HudBay Minerals Crosses Fingers on Copper Output; Prices Rise

Canadian copper, zinc, and precious metal miner HudBay Minerals wants to increase its copper production if it can scoop up a project or two.

“The firm expects to produce around 40,000 tons of copper this year after closing two mines in Canada in 2012. Next year output is expected to rise to around 70,000 to 80,000 tons,” according to Reuters.

This is but a blip in the copper supply world, but is an indication that firms are expecting further copper price strength. (More indicators of China’s manufacturing strength are due next week.)

Current Copper Prices

US copper producer grade 110 price saw the biggest upwards shift for the day, rising 1.5 percent on Thursday, September 19. The price of US copper producer grade 122 increased 1.5 percent as well. The price of US copper producer grade 102 gained 1.5 percent to round it out.

The cash price of primary Japanese copper flattened following two days of declines.

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Chinese copper prices closed flat for the day. Chinese copper bar saw little change in its price on Thursday. The Chinese copper cash price saw little movement on Thursday as well. The price of Chinese copper wire showed little movement yesterday. The price of Chinese bright copper scrap remained steady.

On the LME, the cash price of primary copper increased 0.5 percent to $7,090 per metric ton. At $7,118, the 3-month price of copper finished the market day on the LME up 0.5 percent per metric ton.

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