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[FONT=Arial, Helvetica, sans-serif]An article from Bloomberg written by Heather Walsh, on Copper prices;[/FONT]
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[FONT=Arial, Helvetica, sans-serif]'An energy shortage in Chile may do for copper what cuts in electricity supplies did for platinum in South Africa -- spark a record-setting rally in prices.
Reduced natural-gas imports from Argentina and a drought that cut hydropower output may force Chile, the world's biggest copper producer, to ration electricity to mines owned by Codelco, Anglo American Plc and Antofagasta Plc. In South Africa, platinum production plunged and prices jumped as much as 51 percent this year after utilities limited power in January.[/FONT]
[FONT=Arial, Helvetica, sans-serif]``Power is a problem now in Chile,'' Hugh Callaghan, chairman of copper miner Tamaya Resources Ltd., said in a phone interview from London on March 25. ``The ingredients are there for another spike in copper.''
Power cuts or blackouts in Chile may push copper above its March 6 record of $8,820 a metric ton in London, up more than 3.3 percent from the current price, said Allan Trench, head of copper research at consulting company CRU in London. If Chinese demand keeps rising and supplies are disrupted, copper may jump 17 percent to $10,000, he said.
``People are already worrying,'' Trench said in a phone interview March 28, before he was scheduled to join mining executives at a CRU-sponsored copper conference in Santiago that began last night.
Copper has quintupled in the past five years as rising global demand for wire and pipe, led by China, eclipsed output, forcing manufacturers to draw down inventories.'[/FONT]
[FONT=Arial, Helvetica, sans-serif][/FONT]
[FONT=Arial, Helvetica, sans-serif][/FONT]
[FONT=Arial, Helvetica, sans-serif]'An energy shortage in Chile may do for copper what cuts in electricity supplies did for platinum in South Africa -- spark a record-setting rally in prices.
Reduced natural-gas imports from Argentina and a drought that cut hydropower output may force Chile, the world's biggest copper producer, to ration electricity to mines owned by Codelco, Anglo American Plc and Antofagasta Plc. In South Africa, platinum production plunged and prices jumped as much as 51 percent this year after utilities limited power in January.[/FONT]
[FONT=Arial, Helvetica, sans-serif]``Power is a problem now in Chile,'' Hugh Callaghan, chairman of copper miner Tamaya Resources Ltd., said in a phone interview from London on March 25. ``The ingredients are there for another spike in copper.''
Power cuts or blackouts in Chile may push copper above its March 6 record of $8,820 a metric ton in London, up more than 3.3 percent from the current price, said Allan Trench, head of copper research at consulting company CRU in London. If Chinese demand keeps rising and supplies are disrupted, copper may jump 17 percent to $10,000, he said.
``People are already worrying,'' Trench said in a phone interview March 28, before he was scheduled to join mining executives at a CRU-sponsored copper conference in Santiago that began last night.
Copper has quintupled in the past five years as rising global demand for wire and pipe, led by China, eclipsed output, forcing manufacturers to draw down inventories.'[/FONT]
'In nature, there are neither rewards nor punishments - there are Consequences.'
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