| China's strategic stockpiler may wait for a further copper sell-off before it buys, according to influential investment bank Goldman Sachs. The country's State Reserves Bureau was rumoured to have been active in the copper market last year, yet it does not publicly release details of its purchases, reports Henry Sanderson, commodities correspondent.
The agency appears to buy copper when higher-cost producers are losing money, Goldman says. Copper mining costs are set to continue to fall due to a rising US dollar and falling energy costs, which suggests the SRB may wait for copper to hit at least the low $5,000 a tonne before it buys more, the bank said...............................................Full Article: Source
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