Teck Q1 Profit Rises As China Copper Demand Returns To Pre-pandemic...
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Copper demand in China has been rising since the second quarter of 2020 and is now above pre-pandemic levels, the company said, adding that demand elsewhere had started to pick up towards the end of 2020. Average price realized for Teck's copper rose 13% to $3.92 per pound sequentially, although copper output and sales fell from the prior quarter as the company continues to deal with production disruptions related to the COVID-19 pandemic. Expectations for a boom in copper demand in the transition to a lower carbon economy and global economic recovery have pushed prices back up towards a near 10-year high of $9,617 a tonne hit in February. But in the case of copper, as prices soar, so too would the tax, with marginal rates beginning at 15% of sales for prices between $2.00-$2.50 per pound and cresting at 75% of additional income at prices of over $4.00/lb. Lawmakers have yet to define a sliding scale on other metals. PHYSICAL: The Yangshan copper premium fell to $46.50 a tonne, its lowest since Nov. 17, indicating weakening demand from China, which accounts for about half of global demand estimated at around 24 million tonnes this year. If you know your tax return was already processed, your total will likely be based on your 2020 adjusted gross income, not on your 2019 AGI. That presents complications if the difference between the two years disqualifies you from getting a third stimulus check. This and one large holding of copper warrants and cash contracts have fuelled worry about supplies on the LME market and created a premium for cash copper over the three-month contract .
SANTIAGO, May 6 (Reuters) - Chile's lower house of Congress approved on Thursday an opposition-led bill that would slap a progressive royalty on sales of copper as prices rise, TRANH ĐỒNG CAO CẤP ĐỒNG PHONG THỦY, sharply hiking taxes on the sprawling industry to pay for TRANH ĐỒNG TREO PHÒNG KHÁCH social programs during the COVID-19 pandemic. April 28 (Reuters) - Teck Resources Ltd said on Wednesday copper demand in China had surged past pre-pandemic levels and strong performance of the red metal helped the Canadian miner report a jump in quarterly adjusted earnings.
5th payment batch, including nonfiler veterans -- April 14 1.2 million ($2 billion) 800,000 ($1.4 billion) Not disclosed Not disclosed 700,000 ($1.2 billion) * Ample copper supplies next year and in 2023 will keep the market balanced, but miners need to start investing in new capacity now to meet a pick up in demand MUA TRANH ĐỒNG CAO CẤP ĐỒNG TPHCM growth as economies switch to renewable energy. Three-month copper on the London Metal Exchange fell 1.1% to $9,743 a tonne by 0202 GMT, retreating from a decade high of $9,965 a tonne hit on Tuesday.
The contract's record high level is at $10,190 a tonne. The IRS doesn't want you to call if you have any issue with the delivery or amount of your stimulus check.
