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Jiangxi Copper Plans to Stop Exports to London Metal Exchange
Jun. 08, 2012 12:37PM PST
Base Metals Investing Bloomberg reported that Jiangxi Copper Co. (SHA:600362) has planned to stop exports to London Metal Exchange warehouses as copper prices dropped 9% in May.
Bloomberg reported that Jiangxi Copper Co. (SHA:600362) has planned to stop exports to London Metal Exchange warehouses as copper prices dropped 9% in May.
As quoted in the market news:
Jiangxi Copper, along with most producers in the China Smelters Purchase Team, agreed to export the metal to bring down cash prices and help lower domestic stockpiles, Su said on May 2. Copper for three-month delivery has fallen 11 percent on the LME since then amid concern of an economic slowdown in China and the unresolved debt crisis in Europe.
