Copper faces tough future as Asia stockpiles rise
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Hong Kong
COPPER stocks held in London Metal Exchange warehouses in Asia are set to jump by around 50 per cent in the next month, as the metal is shifted out or diverted away from top consumer China, industry sources said.
The rise in warehouse stocks is likely to depress prices in the near term, while the outlook further out is also weak due to fresh mine supply, said attendees at the LME Week Asia conference in Hong Kong.
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