Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Copper - analysis -- Ignore unavailable to you. Want to Upgrade?

To: Stephen O who wrote (1263)	7/25/2005 12:23:05 PM
From: Stephen O	Read Replies (1) \| Respond to of 2131

Copper Rises, Extending Rally to 16-Year High on Asarco Strike 2005-07-25 08:25 (New York) By Claudia Carpenter July 25 (Bloomberg) -- Copper prices in New York rose for a second day, extending a rally to a 16-year high, as strikes at Asarco LLC entered a fourth week. No talks are scheduled between the union and management until Aug. 2, and ``I don't think there's any possibility'' the strike could end before then, union head Terry Bonds said over the weekend. Asarco has said the strike would cut its output in half since 1,500 workers walked off the job at mines and refineries in Arizona and Texas. ``The fundamentals are solid enough to keep this rally alive,'' said Scott Meyers, an analyst at Pioneer Futures Inc. in New York. Copper futures for September rose 0.65 cent, or 0.4 percent, to $1.61 a pound at 8:13 a.m. on the Comex division of the New York Mercantile Exchange, after touching $1.619, the highest since Jan. 4, 1989. The record is $1.6199 set on that day. A futures contract is an obligation to buy or sell a commodity at a set price by a specific date. Asarco is a wholly owned subsidiary of Grupo Mexico SA in Mexico City. --Editor: Enoch