Copper Prices Soar to 6-Month Highs on Strengthening Chinese Demand
The Paragon Report Provides Stock Research on Teck Resources and Taseko Mines
NEW YORK, NY -- (Marketwire) -- 12/04/12 -- China's slowing economy, which is set to grow at the slowest pace in over a decade, has recently shown much needed signs of improvement. Copper prices last week surged to a 6-week high on rising demand from China, who accounts for approximately 40 percent of global demand. The Paragon Report examines investing opportunities in the Copper Industry and provides equity research on Teck Resources Ltd. (NYSE: TCK) and Taseko Mines Ltd. (NYSE: TGB)(TSX: TKO).
Access to the full company reports can be found at:
www.ParagonReport.com/TCK
www.ParagonReport.com/TGB
A recent survey has shown that manufacturing in China, the world's second largest economy, expanded for the first time in 13 months. HSBC's Purchasing Managers' Index last week rose to 50.4 for November, any reading above 50 signals expansion. China's leaders have slashed interest rates twice since June and have announced $150 billion in infrastructure projects in attempts to boost its slowing economy.
Recent estimates from Barclays PLC have shown that copper demand will exceed supply by 316,000 metric tons in the first half of 2013, before reaching a surplus in the second half of the year. Global demand for copper is expected to grow by 3.4 percent to 20.85 million tons in 2013, while China's demand is expected to grow by 5.5 percent to 8.1 million tons.
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 www.ParagonReport.com and get exclusive access to our numerous stock reports and industry newsletters.
Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, steelmaking coal, zinc and energy. The company recently announced that it has raised its dividend to $0.45 per share, a 12.5 percent increase over the prior dividend.
Taseko is the owner (75%) and operator of the Gibraltar Mine, the second largest open pit copper-molybdenum mine in Canada. Taseko's New Prosperity Project, which is currently in the Environmental Assessment process, is one of the largest undeveloped gold-copper deposits in the world. The company reported copper production of 23.7 million pounds of copper at their Gibraltar in the third quarter of 2012.
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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