Peru's copper mine resumed transportation on the 16th, copper or small drop

Release time：May 16, 2019 From：admin

Abstract: The fall in oil prices dragged down copper prices, and overnight copper fell 16 US dollars. Minmetals resources Peru copper mine transportation has returned to normal, superimposed Rio Tinto plans to expand copper production news pressure, it is expected that copper is now down.

[Copper futures market] Affected by news that Russia and OPEC may decide to increase production, the oil price pressure dragged down the price of copper, and the overnight copper price weakened. The latest closing price was $6,490/ton, down 16 US dollars, down 0.24%, and the volume decreased by 11,343 hands. 7882 hands, the number of positions 294,430 hands increased by 1666 hands. In the evening, the Shanghai copper low position, the latest closing price of the main month 1906 contract was reported at 49,430 yuan / ton, down 110 yuan, a decrease of 0.22%.

Minmetals Resources and the local indigenous communities in Peru finally reached an agreement, the latter agreed to clear the roadblocks, Minmetals resources can normally transport copper concentrates from the Las Bambas copper mine, and fuel transportation has returned to normal; Rio Tinto will be in Arizona, USA The Resolution copper project has an additional investment of $302 million and the company is trying to expand production to meet the needs of the new energy vehicle market. The news put pressure on copper prices, and it is expected that spot copper prices will fall slightly today.