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Copper Prices Fall as China's Manufacturing Sector Continues to Struggle

24.09.2012  |  Marketwired
The Paragon Report Provides Stock Research on Southern Copper and Thompson Creek Metals

NEW YORK, NY -- (Marketwire) -- 09/24/12 -- Copper futures last week saw their biggest decline in seven weeks after manufacturing data and trade disputes with Japan raised concerns over future demand. Demand from China, responsible for roughly 40 percent of the world's copper consumption, is expected to increase by 4.2 percent in 2012, below previous estimates of a 5 percent gain according to China International Capital Corp. The Paragon Report examines investing opportunities in the Copper Industry and provides equity research on Southern Copper Corp. (NYSE: SCCO) and Thompson Creek Metals Company Inc. (NYSE: TC) (TSX: TCM).

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The HSBC Flash China manufacturing purchasing managers' index preliminary reading of 47.8 in September signaled an 11th month of contraction. China's gross domestic product has contracted for six consecutive quarters. The country's GDP in the second quarter expanded 7.6 percent, which was the smallest growth in three years. Copper prices have gained roughly 13 percent since early August on announcements of stimulus measures from central banks in Europe and the U.S.

"China's manufacturing sector continues to struggle, weighed down by a significant domestic slowdown, a wholly unsupportive external climate and a completely insufficient policy response," said Alistair Thornton of IHS Global Insight. "The government has underestimated the pace of the slowdown and is behind the curve."

Paragon Report releases regular market updates on the Copper Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.

Southern Copper is one of the largest integrated copper producers in the world. The company produces copper, molybdenum, zinc, lead, coal and silver. All of their mining, smelting and refining facilities are located in Peru and Mexico. The company produced 313,500 tons of copper during the first six months of the year.

Thompson Creek is in the process of constructing the Mt. Milligan copper-gold mine in central British Columbia. The start-up is expected to be in the third quarter of 2013 and commencement of commercial production of copper and gold is expected in the fourth quarter of 2013.

The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
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Southern Copper Corp.

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