clock menu more-arrow no yes

Filed under:

Recession lowers copper production

SALT LAKE CITY (AP) — The U.S. Geological Survey reports that domestic copper production declined in 2009 because of the global recession and depressed market prices.

The federal agency says Utah ranks second behind Arizona for domestic copper production. It declined by about 9 percent to 1.2 million tons.

The agency says copper prices fell from $3.65 a pound on the London Metal Exchange to less than half that as the global recession took hold during 2008. Prices started a gradual recovery during 2009, but plentiful supplies will keep cooper production in check for 2010.

Kennecott Utah Copper is a major producer.