TS: DJ BASE METALS HIGHLIGHTS: Top Stories Of The Day
LONDON, Apr 22, 2010 (Dow Jones Commodities News via Comtex) --
TOP STORIES:
=DJ UPDATE: Freeport CEO: Changing Strategy As Market Improves
Improving copper-market conditions are leading U.S. producer Freeport McMoRan Copper & Gold Inc. ( FCX | Quote | Chart | News | PowerRating) to change its strategic approach to growth, the company's chief executive said Wednesday.
UPDATE: Peru Suspends Southern Copper Project For 90 Days
LIMA -(Dow Jones)- The Peruvian government is suspending work on the Tia Maria copper project owned by Southern Copper Corp. (SCCO) in order to give time to review the project.
China March Metal Imports Up, But Policy Curbs Cloud Outlook
BEIJING (Dow Jones)--Robust commodity imports in March continued to bolster bullish projections for the strength of Chinese underlying demand, but market attention is shifting to the government's crackdown on bubble-territory property prices, which may suppress trade appetites in coming months.
UPDATE: ICSG: Refined Copper In 120,000-Ton Surplus In Jan 2010
LONDON (Dow Jones)--The global refined copper market was in a surplus of 120,000 metric tons in January 2010, from a surplus of 160,000 tons a year earlier, the International Copper Study Group said Wednesday.
WBMS: Copper Market In 254,000-Ton Surplus In Jan-Feb 2010
LONDON (Dow Jones)--The global copper market was in a 254,000 metric ton surplus in January and February, the World Bureau of Metal Statistics said Wednesday.
China March Refined Copper Imports 337,125 Tons, Up 13% On Year
SHANGHAI (Dow Jones)--China's refined copper imports in March rose 13% from a year earlier to 337,125 metric tons, the General Administration of Customs said Wednesday.
STORIES OF INTEREST:
Zambia's 1Q Copper Output 174,407 Tons; +2% On Year -Central Bank
Zambia's copper production in the first quarter of 2010 increased by 2% on the year, the Central Bank of Zambia said Wednesday.
=UPDATE: Mariana Resources To Raise Cash For Drilling
LONDON (Dow Jones)--Gold, silver and copper explorer Mariana Resources Ltd. (MARL.LN) Wednesday said it will seek to raise GBP5 million or GBP6 million in the summer to fund an extensive drilling campaign at two promising gold and silver projects in South America.
2nd UPDATE: Freeport: 1Q Copper Sales 960 Million Lbs Vs 1.0 Billion On Year
LONDON (Dow Jones)--Freeport McMoRan Copper & Gold (FCX) Wednesday said its first-quarter copper sales fell to 960 million pounds, from GBP1.0 billion in the year-earlier period, but noted it expects higher sales in the second half due to improved sequencing at its Grasberg mine.
Zambia KCM Completes $43 Million Nkana Refinery Upgrades-Company
Zambia's largest copper miner, Konkola Copper Mines, has completed $43 million of upgrades on its Nkana Refinery as it seeks to double annual copper production by 2012, the company said in a statement seen by Dow Jones Newswires Wednesday.
MARKETS:
BASE METALS: NY Copper Futures Gain Slightly With Equities
NEW YORK (Dow Jones)--Copper futures erased slight losses Wednesday to end modestly higher on positive sentiment from gains in other metals and bullish Chinese import figures, shrugging off news of a market surplus for the metal.