However, the benefit from high copper prices could be mitigated if manufacturers choose to substitute aluminum for copper to cut costs.
FORBES: Costly King Copper Could Turn Freeport Into A Pauper
Managed-money accounts are still reducing their net-long position in copper, having cut gross longs and added gross shorts.
FORBES: FOCUS: Speculators Return To Gold Market -- CFTC Data
The company cut its full-year copper production outlook in response to continued disruptions in its cash-cow, the Grasberg mine.
FORBES: Freeport McMoran Beats Despite Plummeting Copper And Grasberg Strike
The ancient Egyptians used copper saw blades more than 5, 000 years ago to cut both wood and stone.
An elderly Georgian woman was scavenging for copper to sell as scrap when she accidentally sliced through an underground cable and cut off internet services to all of neighbouring Armenia, it emerged on Wednesday.
In both the disaggregated and legacy weekly commitment of traders reports issued by the Commodity Futures Trading Commission, the managed-money and larger trader speculative non-commercial accounts sharply cut their net-long positions in precious metals and were short in copper.
FORBES: FOCUS: Falling Prices Push Speculators To Cut Bullish Metals Positions -CFTC
They cut net-long positions in gold and silver and net-short positions in copper as seen in both the legacy and disaggregated weekly commitment of traders reports released by the U.S. Commodity Futures Trading Commission for the week ended Dec. 27.
FORBES: FOCUS: Speculators Continue To Cut Exposure To Most Metals- CFTC
The copper net-short position for the managed-money accounts rose to 2, 649 contracts as they cut gross longs and increased gross shorts.
FORBES: FOCUS: Gold, Silver, Palladium See Net Bullish Positions Rise -- CFTC
The copper net-long position for the managed-money accounts slipped to 13, 260 contracts as they have cut gross longs and hiked gross shorts.
FORBES: FOCUS: Speculators Increase Appetite For Precious Metals --CFTC
The copper net-long position for the managed-money accounts rose to 22, 123 contracts, as they cut 2, 670 gross shorts and added 5, 972 gross longs.
FORBES: Focus: Speculators Continue To Favor PGM Futures, Options; Modest Interest In Gold -- CFTC
The copper net-long position for the managed-money accounts rose fell to 23, 448 contracts, as they cut more gross longs than gross shorts.
FORBES: Funds' Bullish Positions In U.S. Precious Metals Futures, Options Continue To Grow -- CFTC
Exports of coal, copper and other minerals from Utah, Wyoming and Montana are beginning to slip because of falling demand in Asia and cut-price competition from Russia and China.
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