How Tsunami will affect copper prices?
My heart is broken after I read the news from Japan. I read the details in NYT and saw the pictures there, it was so unfortunate what happened to Japan.
Looking from the economic perspective when Japan had high levels of budget deficit to GDP, it seems that incident will hurt the regional economic growth a while. Insurance and utility companies will be hit most, where as construction companies will demand steel and cement to rebuild the city.
On the other side of the coast, Chile closes copper ports and evacuates towns as Tsunami waves hits the west coast of Chile, worlds major copper producing country. According to Bloomberg Xstrata Plc spokesperson announced that “The programmed suspension of port activities may cause a minor delay to shipments but will not impact sales”. That is the first response from one of the major copper mine operator in Chile. However as everyone else, I will be waiting for further updates whether the waves will damage any ports.