China copper fabricators may default

Dec 31, 2008 | 09:54 AM |

Copper fabricators in China are facing a tough January, with some likely to default on purchase contracts signed when the market was booming earlier in 2008, market participants said.

Demand for copper products in China continues to weaken, but many producers of wire, cable, and other downstream copper products are locked into supply contracts for copper metal at prices of as much as $7,000 per tonne, almost triple prices at the end of 2008.....

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