Tanzania-Zambia Copper Railway Closed After Accident

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An unfortunate accident has closed the Tanzania-Zambia Railway Authority for the time being.

“The TAZARA line is a key route for copper exports through the Tanzanian port of Dar es Salaam from Zambia, Africa’s top copper producer, and the neighbouring Democratic Republic of Congo,” reports Reuters.

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“Cross-border operations were halted on Monday after a truck hit a railway bridge in Tanzania, Zambia’s privately owned Post Newspaper reported.”

“The rail line was dislocated and tentatively declared impassable for the next seven days,” TAZARA spokesman Conrad Simuchile said.

Chinese copper bar saw the biggest price decline of the day, dropping 1.2 percent to close on Tuesday, November 19. The Chinese copper cash price declined 1.2 percent. Chinese copper wire closed 0.2 percent lower. The price of Chinese bright copper scrap held steady.

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The price of US copper producer grade 122 saw a 0.5 percent decline. The price of US copper producer grade 110 fell 0.5 percent. The price of US copper producer grade 102 declined 0.5 percent. The Japanese copper cash price increased 0.1 percent.

On the LME, the primary copper cash price rose 0.5 percent to $6,999 per metric ton. At $6,995, the 3-month price of copper finished the market day on the LME up 0.3 percent per metric ton.