Copper prices surged to its highest level in a month Tuesday as a disappointing jobs report eased concerns that the Federal Reserve would slow stimulus efforts. On Tuesday, the U.S. Labor Department reported nonfarm payrolls grew by 148,000 in September, which was short of economists’ forecast of 180,000 jobs. Prices also surged Monday after customs data from China showed Chinese imports of copper grew to a 19-month high in September.
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) shares traded in the range of $36.00 to $36.78 Tuesday before settling to close at $36.34, an increase of 3.71 percent. The stock appears to have some support at the $36.00, $35.23 and $34.86 levels. Shares of Freeport-McMoRan Copper & Gold have gained approximately 6.0 percent in 2013.
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Southern Copper Corp. (NYSE: SCCO) shares traded in the range of $28.73 to $29.74 Tuesday before settling to close at $29.53, an increase of 3.80 percent. The stock appears to be facing some resistance at the $29.47 and $30.33 levels with some support at $29.12. Shares of Southern Copper have fallen approximately 22.0 percent in 2013.
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Thompson Creek Metals Company Inc. (NYSE: TC)(TSX: TCM) shares traded in the range of $3.21 to $3.35 Tuesday before settling to close at $3.33, an increase of 3.74 percent. The stock appears to be facing some resistance at the $3.29 and $3.41 levels with some support at $3.22. Shares of Thompson Creek Metals have gained approximately 66.0 percent in 2013.
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Teck Resources Ltd. (NYSE: TCK) shares traded in the range of $28.03 to $29.06 Tuesday before settling to close at $28.90, an increase of 4.41 percent. The stock appears to be facing resistance at $29.21 with some support at the $28.23 and $27.75 levels. Shares of Teck Resources have fallen approximately 20.0 percent in 2013.
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