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Consider shorting copper above $7,200 per tonne - Barclays

Posted on 27 August 2013

Recent copper price strength can largely be attributed to pipeline restocking, strong demand from the US power sector and tight scrap supplies Barclays says. But, the bank cautions against too much optimism.
Writing in its latest Metals Magnifier note, the bank says that while the rally has come amid positive sentiment around Chinese demand, “recent big price increases in the base metals have been less a reflection of new bullish positions being established on signs of economic stabilisation in China and more a symptom of extreme short positioning when sentiment was overly bearish………………………………………..Full Article: Source


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