Copper plunge curbs China buys of scrap
Apr 20, 2011 | 01:17 PM
| Shi Lili
BEIJING Chinese copper scrap traders are curbing purchases of high-quality scrap like bare bright from U.S. and European markets amid fears that copper prices on the London Metal Exchange and Comex will continue to tumble.
"Since the market is undergoing big plunges since last week, we see there is further room for declines and there is no sense for us to hang on to these stocks," according to a copper scrap buyer in Nanhai, Guangdong province.....
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