Chinese Copper Stockpiles to Lower Prices in Second Quarter of 2012

Reuters reported that huge stocks of copper in Chinese warehouses will likely lower copper prices in the second quarter of 2012.

As quoted in the market news:

China’s inventories of copper in warehouses monitored by the Shanghai Futures Exchange (SHFE), in bonded warehouses and inventories held by producers are well above 1 million tonnes, traders and producers said, a record high, and it will take a few months for these stocks to be depleted.

Click here to read the full Reuters report.