China market casts doubt on copper tightness

Dec 10, 2010 | 12:16 PM |

The lack of pressure on the Shanghai copper spreads has cast doubt on the assumed level of supply tightness in the global market sparked by the backwardation and high prices on the London Metal Exchange.

"There's pressure on cash on the LME, but no pressure on cash in China, a fact which you could say is not terribly supportive of the LME copper price. March copper in Shanghai is around $380 per tonne below the level....

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