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Copper production in Chile, the largest copper producer, declined in February by 8.6% compared to February last year, noting the minimum level for almost 2 years due to heavy rainfall in deposits owned by Freeport-McMoRan. Peru, the second largest copper producer in the world, has also reduced the supply of this metal, as protest actions of indigenous people have been blocking the road to the port city of Matarani from Las Bambas, which is the largest in the country, for more than 50 days. The influence of these factors on the copper market, according to experts of Morgan Stanley, can lead to a shortage of this metal in the amount of 406 thousand tons by the end of 2019. In 2020, according to their estimates, the deficit will be reduced to 187 thousand tons. Experts expect that the average price of copper in the current year will reach 6 thousand 672 dollars per ton, increasing from the current level of 6 thousand 484.5 dollars per ton.
On Thursday, Boeing Co (BA.N) announced that the company is pulling the plug on its hulking 747 jumbo jets, ending a half-century run for the twin-aisle pioneer. According to the aerospace company, the last 747 jumbo jets would roll out from ...
The United States luxury department store chain Neiman Marcus Group (NMG.A) applied for bankruptcy protection in a federal court in Houston on Thursday. In Chapter 11 of the filed document, the retailer company signed an agreement with major ...
South Korean screen manufacturer, Samsung Display said on Tuesday that it would be halting all production of LCD panels in South Korea and China by the end of 2020. The company is doing this in order to produce more advanced screen panels, ...
HSBC Holdings PLC posted its annual profit on Tuesday, showing a 33% decline and falling below analyst forecasts. The decline was caused by a $7.3 billion goodwill impairment linked to its commercial banking and investment banking businesses ...
Copper prices plummet as concerns over China virus intensifies London copper dropped to its lowest in 8 weeks on Monday as concerns over the new virus in China intensified after it had claimed 80 victims. On the London Metal Exchange, prices ...
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