Business Structure Of Copper Industry Essay

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Chapter 3 The Business Structure of the Copper Industry CONTENTS Page Investment Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Ownership of Capacity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . The Changing Ownership of Domestic Capacity . . . . . . . . . . . . . . . . . . . . . . . The Expansion of State Mining Enterprises . . . . . . . . . . . . . . . . . . . . . . . . . . . . International Financing and Subsidization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Price Structure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . The LME and COMEX. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Direct Producer-Customer Contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . The Role of lnventories. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Near-Term Price Determinants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-Term Price Determinants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . The Effects of Price Instability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , 45 48 . 48 . 50 . 52 54 54 . 56 57 57 58 58 Boxes Box 3-A. 3-B. 3-C. 3-D. 3-E. The Cost of Greenfields Has Grown TremendousIy. . . . . . . . . . . . . . . . . . . . Phelps Dodge and the Consolidation of Ownership . . . . . . . . . . . . . . . . . . . increased Government Control in the World Copper Industry . . . . . . . . . . intermediaries in the Copper Market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . The Volatility of Copper Prices and Demand . . . . . . . . . . . . . . . . . . .

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