Copper prices are recovering after taking a hit last month on concerns that a slowdown in China — the world’s biggest buyer of the metal – would hurt demand, the Wall Street Journal reported Wednesday. Bets on falling prices by hedge funds and other investors are down by nearly half since March 25, based on data from the US Commodity Futures Trading Commission, the report said. Copper for April delivery rose 1.1 percent Wednesday to US$3.0505 a pound. The most active May contract is up about 4 percent from a three-and-a-half-year low hit in mid-March, it said.
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