Banks Tighten Credit Around Growing Stockpiles

Reuters reported that due to growing copper stockpiles, some banks are tightening credit around imports of refined copper by China.

As quoted in the market report:

Credit fell further this month as the year-end approaches, they added, squeezed from last December, when importers rushed to use up credit lines and booked large spot shipments, boosting imports to a record 406,937 tonnes of refined copper.

To view the whole Reuters report, click here.