l1154 batteries

Chile earthquake international copper prices higher than the plains drag metal industry

Chile is the world’s largest copper producing country, its exports of copper reserves and are firmly in the world, and has proven reserves of up to 2 million tons, accounting for 34% of the world’s total reserves. Can be said that Chile’s copper mining and exports in the global industry plays a decisive role.

    Beijing time at 2:34 p.m. on the February 27, 2010, Chile’s second largest city, Concepción Wengfa Sheng large magnitude 8.8 earthquake epicenter is located in Chile 利比奥比奥 Province (BIO-BIO), in Concepción, Chile Weng (Concepcion) north-east 89 km, is located 339 km southwest of the capital of Chile, the source is located 55 kilometers underground.

    The Chile earthquake was recorded human history, the earthquake has been the second-grade earthquake caused great damage to Chile, has led to 800 deaths. Southern Chile is located in the epicenter of traffic paralyzed, many industrial enterprises suffered great losses, to the great impact on the international copper prices. Hardware is basically steel, iron, copper, aluminum and other metals as raw materials, copper’s rise will inevitably affect the domestic hardware industry. Following the import of iron ore price rise could lead to domestic steel prices after the price of copper is likely to occur the situation began to soar. Chinese hardware manufacturers will face greater cost pressures.

    It is understood that one of the world leader in mining, the famous South African Anglo American’s annual output of 280,000 tons with 2 copper mine located in central Chile, the earthquake has stopped production due to power failure. Epicentral area has two large state-owned under the Government of Chile has been a mine after the earthquake is unknown, including the world’s largest underground copper mine. And BHP Billiton in northern Chile has the world’s largest copper mine?? Ace Escondida. Although the copper present in normal operation, but the surrounding road congestion, poor logistics, power supply instability, will cause a relatively large impact of copper. The 2007 Chile earthquake 7.7 magnitude that have occurred when the local copper industry in Chile, the direct economic losses of more than 20 million U.S. dollars on the international copper prices rose sharply there.

    In fact, early in the earthquake international copper prices have been rising before. In February, the New York Mercantile Exchange copper prices have been rising in a row, the international price of copper rose 7.6%. While the earthquake is likely in the fire poured a bucket of oil. Moreover, signs of rising copper prices have been at home there. March 1, China’s stock market only four stock all the daily limit of copper mining industry. On the surface, the market optimistic about earnings prospects of the domestic copper industry, which means the market price of copper rose to its very obvious.

    The face of increasingly severe situation of raw materials market, our hardware business, or from the market and recent sales channels starting to fight to get more orders, make up the cost of raw materials price increase pressure.
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