Wednesday, 11 March 2009

SeekingAlpha Says Copper Price Drop is Hammering South America Producers. Will We See a Chile-Peru Copper Cartel?

Click here to read SeekingAlpha's posting on copper producing countries in South America. Says Paul Harper, the smiley guy who writes this blog:

''With global copper prices sinking from a 2008 high of $4 per lb, down to today's miserly, $1.25 per lb, it is hardly surprising that the two major copper producing countries in South America are looking at ways to buoy up their operations. Last week, Peruvian president Alan Garcia dropped some strong hints that Peru and Chile should coordinate on copper production, in order to achieve greater control of prices on international markets.

“I believe that as countries with a strong mining presence in the world we must work in a joint manner, because when brotherly countries produce and compete with the same metal, the only thing we achieve is a fall in the price of copper, and we are both losers,” said Garcia.´´

1 comment:

  1. hey, I put you on my list of links. and that means you get my daily newsletter too. gratis. but I'll need your email. send a quickie to "trendandvalue at gmail dot com".

    thanks. between you and otto I might eventually learn a little about this continent.