Copper futures on the London Metal Exchange fell to a four-month low on Friday as the report said copper stocks have risen further. Three-month copper closed at $6,900 a tonne, down $410 or 5.6% from late Thursday's composite transaction closing, which was lower since June 29. The LME copper stocks increased by 1,625 tons to 148,200 on Friday, an increase of 54% from the beginning of the year. One of the signals that the copper smelter may continue to suppress the supply of copper concentrates next year is that the larger copper mine in Chile, Escondida, began negotiations with the Chinese copper smelter on the processing and refining costs in 2007. The cost of the Chilean side is lower than that in 2006. one third.
Escondida reported a processing fee of $60 per tonne in 2007, and scouring costs of 6 cents per pound. In 2006, it was $90 and 9 cents per tonne, respectively. Aluminum ingots fell by $130. Trader suggestions: short-term wait-and-see.
Jiangsu Dingtian Stainless Steel Products Co., Ltd. , https://www.dingtiancasting.com