Jiangxi will export 100,000 tonnes of copper to unwind LME shorts
May 03, 2012 | 12:32 PM
Jiangxi Copper plans to export 100,000 tonnes of copper to London Metal Exchange warehouses in South Korea as a result of its need to unwind short positions on the exchange, an official for the Chinese copper producer said.
“The only way for us to wind off our short hedging positions on the LME is to destock,” he told Metal Bulletin.
“LME warehouses in South Korea are the cheapest option in Asia so we plan to deliver 100,000 tonnes in the following months,” the official said.
Jiangxi Copper, Xiangguang....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.