No profit for mines in copper price $ 2.1 per pound

20.11.2015 / 21:32

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The price of the metal dropped 27 percent this year as investors fear a drop in Chinese demand and a strong dollar.
"Yet major copper suppliers make cuts just to satisfy shareholders," said Oscar Landereche, president of CODELCO

"We all have mines that are not profitable at $ 2.10 and no one wants to close a mine to reopen because it is extremely expensive," he said in an interview from offices in Santiago

Copper traded $ 2.07 per pound, down from about $ 3 a year ago.
According metal supply and demand to be traded between $ 2.10 and $ 2.40, while in the long range is probably $ 2.80 to $ 3, said Landereche

E.Dimitrov JrTrader

Varchev Traders

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No profit for mines in copper price $ 2.1 per pound

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