11.06.2015 - Copper prices above $6,000/t despite improved availability
The metal was last at $6,049 per tonne, up $79 increase on Tuesday’s close and a one-week high. After a slow start, business picked up, with around 6,500 lots changing hands on Select so far. Stocks fell a net 2,800 tonnes to 308,025 tonnes while cancelled warrants fell 9,550 tonnes to 86,775 tonnes, raising on-warrant material to 221,250 tonnes, up 6,750 tonnes. Further monetary easing in China – Beijing doubled the quota allowing its provinces to swap debt for bonds to two trillion yuan – provided support to the complex. Still, many market participants were expecting additional stimulus measures after a recent run of negative data...............................................Full Article: Source
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