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Copper prices swing amid positive economic forecasts and Chinese smelting concerns
Rumours of copper smelting issues continue to emanate out of China, leading to major mixed messaging on where the critical metals price is heading. At the same time, copper bounced back overnight to pass US$9,000 per tonne on positive news—also from China. Senior commodity strategist Daniel Hynes reported in his ANZ (ASX: ANZ)-backed daily Commodity Wrap, that strong economic data out of China had raised hopes of an increase in copper demand. However, he also noted that the global copper concentrate market has tightened up significantly following some cutbacks to output from copper mines. “This has led Chinese ... (full story)