Glencore Xstrata’s Pasar to Reopen Mid Jan; Japanese Copper Up

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Looks as though “Glencore Xstrata’s Pasar copper smelter in the Philippines plans to restart as soon as January 15, after being damaged by Typhoon Haiyan in November, two sources said on Wednesday,” reports Reuters.

“The Pasar plant, majority owned by Glencore, is in Leyte province, southeast of Manila. It has been shut since around Nov. 7.”

“‘Pasar have now told mine suppliers (to expect a) smelter restart Jan 15,’ a trader in Europe said.”

“Another industry source confirmed plans to reopen from mid January.”

In metal price news for copper…

Strengthening prices ended a three-day flat streak as the Japanese copper cash price moved up by 1.3 percent on Tuesday, January 7. Following two days of downward movement, the price of US copper producer grade 110 held steady. After a couple of days of decreasing prices, the price of US copper producer grade 102 held steady. The price of US copper producer grade 122 steadied following two-days of dropping prices.

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Chinese copper closed mixed on Tuesday. Chinese copper bar saw its price rise 0.1 percent. The cash price of Chinese copper rose 0.1 percent. Chinese copper wire saw little change in its price yesterday. The price of Chinese bright copper scrap was essentially unchanged.

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On the LME, the copper 3-month price declined 0.4 percent to $7,290 per metric ton. The cash price of primary copper weakened by 0.3 percent on the LME, settling at $7,313 per metric ton.