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LME copper price levels may reflect global inventory – Citi

Posted on 21 February 2014

Copper inventory levels on the London Metal Exchange fell below 300,000 metric tons last week, the first time since December 2012, and cancelled warrants remain close to highs of 60%, but this stock tightness does not seem to be reflected in prices, says David Wilson, analyst at Citi.
Wilson says LME three-month prices are trading at around $7,200 a metric ton, versus mid-December 2012 prices of over $8,050………………………………………..Full Article: Source


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