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LME ASIAN WRAP: Copper prices ease as market decodes China data
February 13, 2014 - 03:29 GMT
London Metal Exchange copper prices were down in early Asian trading on Thursday February 13, as the market digested robust Chinese trade data and favourable comments from the US Federal Reserve chief.
At 02:17 London time, three-month copper traded at $7,127.25
per tonne, down from its opening price of $7,136.75 per tonne.
"China’s copper imports were surprisingly high but
there are some underlying reasons behind it and the numbers may
not indicate strong demand as people thought at first glance,"
Xu Maili, analyst at Everbright Futures in Shanghai said. "Rise
in January imports were mainly due to financing deals,...
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Euromoney Institutional Investor PLC.
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