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Global copper exchange stocks top 1Mt for first time in two decades
Copper stocks on the world's three biggest metal exchanges have exceeded one-million metric tons for the first time in more than two decades, as an inventory build due to soft demand in China adds to recent stockpiling in the United States. Combined copper stocks on the US Comex exchange HG-STX-COMEX, London Metal Exchange and the Shanghai Futures Exchange are at 1 012 065 tons, LSEG data showed on Friday, after the LME and ShFE reported further inflows. The total is the highest since August 2003 and equivalent to around 3.5% of annual global refined copper consumption of 28.7-million tons, as estimated by the ... (full story)
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