Chile earthquake international copper prices higher than the plains drag metal industry

Chile is the world's largest copper producing country,production due to power failure. Epicentral area has
its exports of copper reserves and are firmly in thetwo large state-owned under the Government of
world, and has proven reserves of up to 2 millionChile has been a mine after the earthquake is
tons, accounting for 34% of the world's totalunknown, including the world's largest underground
reserves. Can be said that Chile's copper mining andcopper mine. And BHP Billiton in northern Chile has the
exports in the global industry plays a decisive role.world's largest copper mine?? Ace Escondida.
    Beijing time at 2:34 p.m. on the February 27,Although the copper present in normal operation, but
2010, Chile's second largest city, Concepción Wengfathe surrounding road congestion, poor logistics, power
Sheng large magnitude 8.8 earthquake epicenter issupply instability, will cause a relatively large impact of
located in Chile 利比奥比奥 Provincecopper. The 2007 Chile earthquake 7.7 magnitude
(BIO-BIO), in Concepción, Chile Weng (Concepcion)that have occurred when the local copper industry in
north-east 89 km, is located 339 km southwest ofChile, the direct economic losses of more than 20
the capital of Chile, the source is located 55million U.S. dollars on the international copper prices
kilometers underground.rose sharply there.
    The Chile earthquake was recorded human    In fact, early in the earthquake international
history, the earthquake has been the second-gradecopper prices have been rising before. In February,
earthquake caused great damage to Chile, has led tothe New York Mercantile Exchange copper prices
800 deaths. Southern Chile is located in the epicenterhave been rising in a row, the international price of
of traffic paralyzed, many industrial enterprisescopper rose 7.6%. While the earthquake is likely in
suffered great losses, to the great impact on thethe fire poured a bucket of oil. Moreover, signs of
international copper prices. Hardware is basically steel,rising copper prices have been at home there. March
iron, copper, aluminum and other metals as raw1, China's stock market only four stock all the daily
materials, copper's rise will inevitably affect thelimit of copper mining industry. On the surface, the
domestic hardware industry. Following the import ofmarket optimistic about earnings prospects of the
iron ore price rise could lead to domestic steel pricesdomestic copper industry, which means the market
after the price of copper is likely to occur theprice of copper rose to its very obvious.
situation began to soar. Chinese hardware    The face of increasingly severe situation of
manufacturers will face greater cost pressures.raw materials market, our hardware business, or
    It is understood that one of the world leaderfrom the market and recent sales channels starting
in mining, the famous South African Anglo American'sto fight to get more orders, make up the cost of
annual output of 280,000 tons with 2 copper mineraw materials price increase pressure.
located in central Chile, the earthquake has stopped