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

To: Stephen O who wrote (1397)	3/1/2006 2:19:55 PM
From: Stephen O	Read Replies (1) \| Respond to of 2131

Copper Rises as Strike at Mines in Mexico May Disrupt Supplies 2006-03-01 12:29 (New York) By Claudia Carpenter March 1 (Bloomberg) -- Copper prices in New York rose for a second straight day on concern that strikes in Mexico will crimp supplies of the metal. Workers walked off the job yesterday at Mexico's two largest copper mines, Cananea and La Caridad, owned by Grupo Mexico SA. Global copper use will exceed output this year and next, not be in surplus as expected, partly because of supply concerns, Merrill Lynch & Co. said in a report today. ``This is a nationwide strike in Mexico, and it's huge news,'' said Michael Purdy, a trader at ABN Amro Bank in New York. Copper futures for May delivery rose 3.4 cents, or 1.6 percent, to $2.2125 a pound at 12:34 p.m. on the Comex division of the New York Mercantile Exchange. Prices rose 2.3 percent yesterday. A futures contract is an obligation to buy or sell a commodity at a set price by a specific date. Workers were demanding that Grupo Mexico improve safety and maintenance. --With reporting by Alex Emery in Lima. Editor: McKiernan