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Copper flat as rising stockpiles offset mine supply tightness
Copper prices were range-bound on Wednesday as a spike in inventories in Chinese exchange warehouses offset tightness in mining supply. Three-month copper on the London Metal Exchange was nearly flat at $8,472.50 per metric ton by 0247 GMT, while the most-traded April copper contract on the Shanghai Futures Exchange was largely unchanged at 68,850 yuan ($9,564.09) a ton. Copper inventories in SHFE warehouses more than doubled in just over two weeks to 181,323 tons on Friday, the highest since March last year, suggesting Chinese demand has not made a strong recovery since the Lunar New Year holiday. Meanwhile, copper ... (full story)