[written by Simon Watkins, courtesy of etfdailynews.com]
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Copper prices (NYSEArca:JJC) have recouped last week’s losses this morning as Greek Prime Minister Lucas Papademos won parliamentary approval for swinging new austerity measures aimed at securing a further EUR130 billion ($132 billion) bailout package from the euro zone.
[written by Richard Hunter, courtesy of hl.co.uk]
Whilst gold has appeal as a store of value and is often seen as a ‘safe-haven’, copper is viewed as a barometer for economic prospects.
The reasons for this stem from its widespread uses, particularly in power and construction. It is an excellent electricity and heat conductor, used in cars, transport and communication systems, even mobile telephones and coins. Huge amounts are being used by industrialising economies such as India and China, and fluctuations in demand are therefore used to indicate future manufacturing activity in these countries.
The relationship works both ways, and last week’s strong manufacturing updates from the US, China and India led to an increase in the price of copper.
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[reporting by Michael Hogan, courtesy of reuters.com]
* Falling inventories show strong global copper demand
* Higher November Chinese copper imports likely
* Chinese copper smelters face production problems
HAMBURG, Nov 22 (Reuters) – Global copper demand remains firm despite fears of an economic slowdown and key consumer China is likely to raise imports again in November, Aurubis, Europe’s biggest copper producer, said on Tuesday.
“The general view that demand is suffering due to economic concerns does not seem to fit with the inventory trend in the metal exchange warehouses,” Aurubis said in a report. “Copper production does not meet the requirements.”
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Stamford Metal Products is now R410A compliant. UL (Underwriters Laboratories) has certified the use of this refrigerant for specific driers manufactured by Stamford.
“This is a significant milestone”, explains Drew Pinto, President of Stamford Metal Products. “Refrigerants change and evolve, and it is essential that our products and manufacturing processes maintain the same high standards.”
Due to its high efficiency, R-410A is an increasingly popular choice for air conditioning systems. It operates at 50% higher pressure than R-22, requiring driers and other metal components to be made to higher, more stringent specifications.