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Copper Prices Seen Marching Higher

Posted on 01 July 2014

Some investors are turning bullish on copper prices, brushing aside concerns sparked by a probe into the metal’s place in China’s financial system. Instead, these investors are focusing on a rebound in manufacturing world-wide, which they expect will boost copper demand broadly. Increasing consumption by factories will offset any decline in the use of copper as collateral to back loans as a result of the probe, these investors say.
China is the world’s biggest copper consumer and importer, though how much of the metal goes to manufacturers is unclear. Copper prices hit a four-month high on Monday. Futures have recouped almost all of their losses from early June, when news broke that Chinese authorities were investigating allegations that a trading company in the port of Qingdao took out numerous loans against the same stock of metal………………………………………..Full Article: Source


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