Monday, April 23, 2007

Copper Declines in London After Grasberg Strike Ends; Tin, Nickel Advance

(Bloomberg) -- Copper dropped in London after a four- day protest at Indonesia's Grasberg, the world's second-largest copper mine, ended over the weekend. Tin and nickel gained.

Copper surpassed the $8,000-a-metric-ton mark last week for the first time in seven months on speculation a labor dispute at the Freeport McMoRan Copper & Gold Inc. mine, which contributed 3.6 percent to world supplies last year, would have cut supplies. The workers and the management settled the dispute on April 21.


Read more at Bloomberg Commodities News

No comments: