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Gold/Mining/Energy : Copper - analysis

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To: Stephen O who wrote (393)	1/10/2003 12:19:46 AM
From: Stephen O	Read Replies (1) of 2131

Supply cutbacks bolster China copper futures 10 January 2003 COPPER futures have jumped sharply in China on fears of a supply shortage in that country caused by producer cutbacks in South America. The price rise on the Shanghai copper futures market has been much greater than price movements on the London Metal Exchange. A metal trader in Singapore told Reuters that some traders were "trying to squeeze to market". On Thursday the Shanghai spot January copper price hit US$2028 a tonne compared with London's price of US$1650. A metal industry official in Japan said he had "nothing left to sell", predicting that the market tightness in China was getting worse day-by-day. miningnews.net

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