Copper confuses in Shanghai

IN theory, copper should be trading at a higher price than its current US$2.79 a pound but the fact that it isn’t, even as the global stockpile of the metal plummets to a near 10-year low, is the best indication of a deeply-confused market.

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Heightened confusion: “The puzzle is, where is all this copper going?”

Last week's Asia CESCO conference in Shanghai was expected to throw some light on the contradictions in the market for copper, arguably the most important metal in the global economy because of its

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