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Copper slips as inventories climb and China premiums dip

From reuters.com

Copper fell from a two-week high on Wednesday on worries over demand as inventories continued to increase and premiums for the red metal into top consumer China fell. Benchmark copper on the London Metal Exchange (LME) shed 0.8% to $8,974.50 a tonne in official trading. The metal touched its highest since March 23 at $9,104 in the previous session. Copper inventories in LME-registered warehouses have since surged to 150,325 tonnes compared to 74,200 tonnes at the end of February. Stocks have also climbed elsewhere. CU-STX-SGH “Stocks have almost doubled since the lows in February. That’s not a good sign in supporting ... (full story)

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  • Category: Fundamental Analysis