Annual copper supply talks seen spilling into next year
Dec 11, 2007 | 03:23 PM
| Sean Barry
Annual copper cathode supply negotiations are expected to drag into 2008 as consumers continue to hold off signing deals following the collapse in the U.S. residential construction market and growing uncertainty over the economy.
Many manufacturers of semi-fabricated products are reluctant to lock in an annual premium for delivery of copper cathode next year as orders are harder to chart in the wake of a manufacturing slowdown in the United States.
The price of copper on the futures exchanges and spot premiums also have softened as demand weakens and stocks rise in exchange warehouses. Copper on the Comex division of the New York Mercantile has lost almost 20 percent since early October.....
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