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Metals Pare Best Rally Since 2012 as China Curbs Speculation

Posted on 30 November 2016

Industrial metals slumped, paring the biggest monthly rally in four years, on signs that China is taking steps to cool a trading frenzy in commodities. The Shanghai Futures Exchange and Dalian Commodity Exchange have raised margins and fees to ease a trading frenzy that’s fueled aggressive price gains this month, and further measures are expected, according to Citigroup Inc. analysts.
“Chinese investors trigger copper prices back to life, but not back to reality,” Citigroup analysts including David Wilson wrote in an e-mailed note. Prices may fall as China takes steps to “skim speculative froth on industrial commodity markets,” they said………………………………………..Full Article: Source


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