Demand concerns keep copper in flux (UPDATE)

Mar 18, 2014 | 04:15 PM | Saranya Kapur

Tags  Comex, copper, LME, London Metal Exchange, Catherine Virga, Edward Meir, CPM Group, INTL FC Stone copper prices

NEW YORK — Copper prices continued to fluctuate March 18 after a sell-off last week, with concerns over long-term demand in China keeping tags near a 44-month low.

Prices had ticked up slightly March 17, which analysts attributed to speculators settling their short positions.

"There’s been a large buildup in short positions, and at this price there is an opportunity to buy back and take profits," said Catherine Virga, an analyst at New York-based commodities research, consulting and asset management company CPM Group. "There’s been a bit of a bounce back, but the momentum isn’t staying."....

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