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

By: frbiz

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"Chile earthquake occurred in Chile, not only caused their injuries and economic losses, its impact is likely to cross the Pacific Ocean, affecting China's hardware industry." China International Hardware Show (CIHS'10) Organizing Committee The spokesman says.

It is reported that the 2010 Beijing time at 2:34 p.m. on the February 27, 2010, Chile's second largest city, Concepci髇 Wengfa Sheng Richter 8.8 earthquake epicenter is located in Chile ????? Province (BIO-BIO), in Chile Concepcion (Concepcion) 89 km north-east, is located 339 km southwest of the Chilean capital Santiago, the source is located 55 kilometers underground.
The Chile earthquake was recorded human history, the earthquake has been the second-grade earthquake caused great damage to Chile, which now more than 800 people died. Southern Chile is located in the epicenter of traffic paralyzed, many industrial enterprises suffered losses.

"Chile is the world's largest copper producing country, its exports of copper reserves and are firmly in the world, and has proven reserves of up to 2 million tons, accounting for 34% of total global reserves. Can be said that the global copper in Chile mining and export industry plays a decisive role. Therefore, the earthquake will give great impact on the international copper price. "China International Hardware Show (CIHS'10), said a spokesman for the organizing committee," the basic metal products on of steel, iron, copper, aluminum and other metals as raw materials, copper's rise will inevitably affect the domestic hardware industry. Following the import of iron ore price rise could lead to domestic steel prices after the price of copper is also likely to occur The situation began to soar. Chinese hardware manufacturers will face greater cost pressures. "

It is understood that, leader of the global mining industry, the famous South African Anglo American's annual output of 280,000 tons with 2 copper mine located in central Chile, the earthquake has stopped production due to power failure. Epicentral area has two large state-owned under the Government of Chile has been a mine after the earthquake is unknown, including the world's largest underground copper mine. And BHP Billiton in northern Chile has the world's largest copper mine - Ace Escondida. Although the copper present in normal operation, but the surrounding road congestion, poor logistics, power supply instability, will cause a relatively large impact of copper. The 2007 Chile earthquake 7.7 magnitude that have occurred when the local copper industry in Chile, the direct economic losses on more than 20 million U.S. dollars, there was substantial increase in international copper prices.

"We can say that Chile's copper industry suffered the impact of the earthquake, almost certainly push the international price of copper. Even if Chile's copper industry, the end did not suffer much loss, but just the international community 'earthquake destroyed the Chilean copper industry' in panic, enough to encourage higher copper prices. To some extent, this fear more than the real destructive power of earthquakes. "China International Hardware Show (CIHS'10) organizing committee spokesman said.
In fact, early in the earthquake international copper prices have been rising before. In February, the New York Mercantile Exchange copper prices have been rising in a row, the international price of copper rose 7.6%. While the earthquake is likely in the fire poured a bucket of oil.

"Moreover, signs of rising copper prices have been at home there. March 1, China's stock market only four stocks all the daily limit of copper mining industry. On the surface, the market optimistic about prospects for the domestic copper industry's profits, that market Copper prices rose on expectations very clear. "CIHS'10 organizing committee spokesman continued.

"Faced with the increasingly serious situation in the raw materials market, our hardware business, or from the market and recent sales channels starting to fight to get more orders, make up the cost of raw materials price increase pressure." CIHS'10 Organizing Committee The spokesman concluded by saying, "In 2009 China International Hardware Show (CIHS'09), we invited for the hardware companies tens of thousands of overseas buyers, effective help to the Chinese hardware companies to address the financial crisis. while This year's China International Hardware Show (CIHS'10) also will be Sept. 28 at the Shanghai New International Exhibition Center grand opening. We need to continue to expand the scale of overseas buyers and exhibitors based on the buyers pay more attention to professionalism, At the same time to the hardware companies to provide a new product, new technology and new materials platform, to help respond to business success in China hardware rising cost pressures. "

Article Source: http://depositarticles.com/

I am a professional editor from China Suppliers, and my work is to promote a free online trade platform. www.frbiz.com/ contain a great deal of information about metal detecting magazines,thermo hygrometer,leather coaster set, welcome to visit!

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