China's copper demand holds strong on arbitrage

Jan 19, 2010 | 12:46 PM |

China's appetite for copper remains strong amid stockpiling demand and a wider arbitrage window, market participants said.

"The profits have gone up by 66 percent to 100 yuan ($14.60) per tonne over the week," a physical trader in Shanghai said. "We've got contracts with Minmetals (Corp.) for monthly copper imports; however, attracted by the arbitrage window, we decided to buy more spot copper in the physical market, although the premiums might be a bit higher."....

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