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Theaureport.com reported on Copper Offtake Thesis Paying Off:
Theaureport.com reported on Copper Offtake Thesis Paying Off:
What has happened is that Chinese copper consumption has remained strong. Earlier in the year, bullish sentiment toward copper was only reluctantly embraced as North American and European economic recoveries appeared tenuous. However, sentiment turned decidedly bullish midsummer as the protracted drawdown in London Metal Exchange (LME) inventories started to resonate with investors and metal traders—particularly when considered with strong Chinese consumption data from growth in the appliance market and social housing projects and improving Institute of Supply Management (ISM) data out of the U.S. More recently, the expectation of more quantitative easing (QE) policies in the U.S. and, thus a weaker dollar, is providing another leg up to copper prices.
