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China base metal buys will hardly dent ample supply -trade

Posted on 08 November 2012

China’s plan to buy base metals for state reserves in an effort to cushion domestic smelters from slowing economic growth would support prices but would not significantly reduce bulging stockpiles, traders and analysts said on Wednesday.
China is the world’s biggest consumer of base metals, but demand has faded this year as exports have weakened, pushing stocks of copper and aluminium to near-record highs and driving some smelters into loss-making territory………………………………………..Full Article: Source


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