| China is the largest copper consumer in the world demanding 40% of the world`s copper supply. The copper price rose as much as 17% this year – despite copper stocks in Shanghai warehouses increasing steadily for quite some time and last week hitting the highest level in nearly a decade.
The recent copper price increase is broadly being reasoned with “hopes“ that demand from China will pick up after the Chinese Lunar New Year in January. However, preliminary data suggests that China`s new export orders shrank in February instead of picking up as “expected“...............................................Full Article: Source
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