Tuesday, March 2, 2010

Teck Resources (NYSE:TCK) Rises on Copper Concerns

Teck Resources Chile Copper Mines

Teck Resources (NYSE:TCK) had a nice gain of 3.2 percent as concerns over Chile copper drove up mining stocks around the world.

The good news is, depending on which side you're looking at it from, is copper mines in Chile were largely unaffected by the earthquake, and other than some temporary electric outages, should be operating at full capacity.

Now the question is whether other infrastructure in the country like roads are still able to transport the copper to its destinations. It seems there is little damage at this time to highways in the country, and so that shouldn't have a long-term effect either.

Other than some short-term problems, copper in Chile should be back online fairly soon, and abundant global inventories make it a rather mute point if it isn't a major disruption in copper supply, which at this time all indications are it isn't.

Teck Resources Chile Copper Mines

No comments: