"Copper mining stocks leapt as the price of the red metal hit an 11-month high on media reports overnight that Chinese smelters planned to cut production at some of their lossmaking plants."
I'm so confused by this. I presume copper smelters take the copper ore from the likes of DVD (not today, but in the future) and make it into the final product (prior to further processing into wire etc).? So if they cut back on the smelting, the final product should increase in price due to a drop in supply. But why should the copper ore increase in value. If the smelters cut production, then shouldn't demand for the ore drop, causing the price to drop?
"Copper mining stocks leapt as the price of the red metal hit an...
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Last
$2.35 |
Change
0.080(3.52%) |
Mkt cap ! $570.2M | |||
| Open | High | Low | Value | Volume |
| $2.30 | $2.40 | $2.28 | $2.391M | 1.016M |
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| No. | Vol. | Price($) |
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| 1 | 1702 | $2.35 |
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| Price($) | Vol. | No. |
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| $2.37 | 15000 | 1 |
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| Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
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$2.36 |
Change
0.080 ( 4.08 %) |
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| Open | High | Low | Volume | ||
| $2.29 | $2.39 | $2.29 | 418573 | ||
| Last updated 15.59pm 26/04/2024 ? | |||||
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