Firms are showing interest in Anglo American PLC’s Chilean copper mines, but a lack of public information is proving an issue with some potential buyers, according to people familiar with the matter.
Anglo hopes to sell 3 Chilean copper mines and a smelter, according to a person familiar with the matter, as it goes through a wide ranging review of its portfolio aimed at trimming the less-profitable parts.
Among the firms expressing early interest are QKR Corp. and Magris Resources Inc., according to people familiar with the matter.
The cash price of Japanese copper saw a 1.2% drop on Thursday, November 6, landing at JPY 791,000 ($7,265) per metric ton and making it the biggest mover of the day. The price of US copper producer grade 110 weakened by 0.3%, settling at $3.73 per pound. The price of US copper producer grade 122 declined 0.3% to $3.73 per pound. The price of US copper producer grade 102 saw a 0.3% decline to $3.92 per pound.
Chinese copper prices were flat for the day. Chinese copper bar stayed flat at around CNY 48,800 ($7,946) per metric ton. The cash price of Chinese copper showed little movement yesterday at CNY 49,000 ($7,978) per metric ton. For the fifth consecutive day, the price of Chinese copper wire held flat at CNY 50,395 ($8,205) per metric ton. For the fifth day in a row, the price of Chinese bright copper scrap remained essentially flat at CNY 44,300 ($7,213) per metric ton.
On the LME, the 3-month price of copper fell 1.2% to $6,583 per metric ton. The cash price of primary copper saw a 0.9% decline on the LME to $6,646 per metric ton.