Copper Macro Thread, page-140

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Copper has surged more than 3% after the threat of production cuts from Chinese smelters being smashed by low processing charges.Less copper concentrate being produced has seen the smelters being forced to lower what they can charge miners and traders.The sudden, forced closure of First Quantum's huge mine in Panama is an obvious example of less concentrate being produced.Speaking of First Quantum, its shares gained 12.5% on the TSX, while other copper stocks jumped 7-10%. Elsewhere, the gold price reclaimed some of the loss earlier this week and the TSX gold sector rose 2%.On the broader equities market front, Wall St had a mixed session while the ASX 200 futures index was pointing to a gain of 22 points.