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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (36426)	5/1/2009 2:52:19 PM
From: LoneClone	Read Replies (1) of 194000

Chinese demand for copper stronger than expected: Codelco Santiago (Platts)--1May2009 platts.com Chinese demand for imported refined copper has exceeded expectations during the first three months of the year, the head of the world's largest copper producer said Thursday. "Demand for imported copper in China and the sales we have made to that market have been stronger than expected, and all we hope that this situation continues," said Jose Pablo Arellano, executive president of Chile's state mining company Codelco. The sharp rise in copper prices since the beginning of the year to over $2/lb in recent weeks has been attributed to the sharp rise in Chinese copper imports. The executive said that the company expected the fiscal stimulus packages implemented by governments across the developed world would also positively impact copper prices, but that prices would be subject to considerable volatility. "One thing we will continue to see is highs and lows in the price," Arellano said. --Tom Azzopardi, newsdesk@platts.com

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