Copper sales to be cut
(N.Z. Press Assn—Copyright) LONDON,
Disappointment over measures taken at the Council' of Copper Exporting Countries (CIPEC) meeting resulted in copper prices sagging during early unofficial trading on the London Metal Exchange on Wednesday. Lead also fell, but other base-metal values were marked up, during fairly quiet trading. The group decided on a cut-back in shipments in all forms, by 10 per cent from December 1. This is expected to bring the price of copper up to the target of £B5O a tonne.
However, measures taken in Paris do not include Arab finance for a copper stockpile as anticipated in some quarters. Brokers -said that CIPEC will review the situation during their continuing talks in Paris.
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Bibliographic details
Press, Volume CXIV, Issue 33700, 25 November 1974, Page 21
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120Copper sales to be cut Press, Volume CXIV, Issue 33700, 25 November 1974, Page 21
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