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Hedge funds sceptical about copper rally
Published Mon, Feb 22, 2016 · 09:50 PM
New York
WHILE copper prices have rallied in four of the past five weeks on the prospect of improved industrial demand in China, hedge funds are sceptical that the recovery will last.
The funds and other large speculators have been betting on declines for the metal since October. Last week, the net-short position in copper holdings grew for the first time since mid-January, even as the metal advanced.
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