Copper Companies Prices Double from Lows


". . .90% of the world's copper miners are making cash profits."

The average stock price for listed copper mining specialists has more than doubled from lows seen just three months ago, on hopes that a turning point for the global economy is within sight. Moves in copper prices, a major among the base metals, are seen by a number of investors as a proxy on the health or otherwise of the global economy.

Prices for copper metal set all time nominal record levels in mid-2008, at $4.08/lb, before collapsing to $1.28/lb during December. Prices have since recovered strongly, hovering just below $1.70/lb on Monday, levels where at least 90% of the world's copper miners are making cash profits, according to industry surveys.

The overlap in metal interests and stock price performance is no coincidence, given that listed gold stocks, followed by the far smaller precious metals cousin, silver, rank as the world's top performing resource equities, with specialist copper miners in third place.

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