Frbiz Reports "Chile Earthquake," Affect The International Price Of Copper Metal Industry

ile earthquake occurred in Chile, not only caused theircopper. The 2007 Chile earthquake 7.7 magnitude
injuries and economic losses, its impact is likely tothat have occurred when the local copper industry in
cross the Pacific Ocean, affecting China's hardwareChile, the direct economic losses on more than 20
industry." China International Hardware Showmillion U.S. dollars, there was substantial increase in
(CIHS'10) Organizing Committee The spokesmaninternational copper prices.
says."We can say that Chile's copper industry suffered the
It is reported that the 2010 Beijing time at 2:34 p.m.impact of the earthquake, almost certainly push the
on the February 27, 2010, Chile's second largest city,international price of copper. Even if Chile's copper
Concepci髇 Wengfa Sheng Richter 8.8industry, the end did not suffer much loss, but just
earthquake epicenter is located in Chile ????? Provincethe international community 'earthquake destroyed
(BIO-BIO), in Chile Concepcion (Concepcion) 89 kmthe Chilean copper industry' in panic, enough to
north-east, is located 339 km southwest of theencourage higher copper prices. To some extent, this
Chilean capital Santiago, the source is located 55fear more than the real destructive power of
kilometers underground.earthquakes. "China International Hardware Show
The Chile earthquake was recorded human history,(CIHS'10) organizing committee spokesman said.
the earthquake has been the second-gradeIn fact, early in the earthquake international copper
earthquake caused great damage to Chile, which nowprices have been rising before. In February, the New
more than 800 people died. Southern Chile is locatedYork Mercantile Exchange copper prices have been
in the epicenter of traffic paralyzed, many industrialrising in a row, the international price of copper rose
enterprises suffered losses.7.6%. While the earthquake is likely in the fire poured
"Chile is the world's largest copper producing country,a bucket of oil.
its exports of copper reserves and are firmly in the"Moreover, signs of rising copper prices have been at
world, and has proven reserves of up to 2 millionhome there. March 1, China's stock market only four
tons, accounting for 34% of total global reserves.stocks all the daily limit of copper mining industry. On
Can be said that the global copper in Chile mining andthe surface, the market optimistic about prospects
export industry plays a decisive role. Therefore, thefor the domestic copper industry's profits, that
earthquake will give great impact on the internationalmarket Copper prices rose on expectations very
copper price. "China International Hardware Showclear. "CIHS'10 organizing committee spokesman
(CIHS'10), said a spokesman for the organizingcontinued.
committee," the basic metal products on of steel,"Faced with the increasingly serious situation in the
iron, copper, aluminum and other metals as rawraw materials market, our hardware business, or
materials, copper's rise will inevitably affect thefrom the market and recent sales channels starting
domestic hardware industry. Following the import ofto fight to get more orders, make up the cost of
iron ore price rise could lead to domestic steel pricesraw materials price increase pressure." CIHS'10
after the price of copper is also likely to occur TheOrganizing Committee The spokesman concluded by
situation began to soar. Chinese hardwaresaying, "In 2009 China International Hardware Show
manufacturers will face greater cost pressures. "(CIHS'09), we invited for the hardware companies
It is understood that, leader of the global miningtens of thousands of overseas buyers, effective help
industry, the famous South African Anglo American'sto the Chinese hardware companies to address the
annual output of 280,000 tons with 2 copper minefinancial crisis. while This year's China International
located in central Chile, the earthquake has stoppedHardware Show (CIHS'10) also will be Sept. 28 at the
production due to power failure. Epicentral area hasShanghai New International Exhibition Center grand
two large state-owned under the Government ofopening. We need to continue to expand the scale of
Chile has been a mine after the earthquake isoverseas buyers and exhibitors based on the buyers
unknown, including the world's largest undergroundpay more attention to professionalism, At the same
copper mine. And BHP Billiton in northern Chile has thetime to the hardware companies to provide a new
world's largest copper mine - Ace Escondida. Althoughproduct, new technology and new materials platform,
the copper present in normal operation, but theto help respond to business success in China
surrounding road congestion, poor logistics, powerhardware rising cost pressures.
supply instability, will cause a relatively large impact of