19 November 2018

China shows the way for copper, WSJ says

Surprisingly strong Chinese copper demand is prompting investors to rethink their dour predictions for the metal, the Wall Street reported Sunday, citing industry experts. Copper consumption by the world’s biggest user remains resilient even as China’s economy cools and Beijing tries to tighten access to credit, analysts say. Stockpiles of the metal in London Metal Exchange warehouses have halved since late June and much of that copper has been moving to China, industry experts were quoted as saying. Copper prices are up 7.1% from a three-month low reached in mid-November. The increase has been partly driven by hedge funds and other money managers, the report said. 

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