Chinese copper glut grows in sign of sluggish economy

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The story "Chinese copper glut grows in sign of sluggish economy" was covered 2 weeks ago by Financial Times, a news publisher based in United States.

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Financial Times 2w ago

Chinese copper glut grows in sign of sluggish economy - Financial Times

Quick Summary:

The rise in copper inventories reflects China’s real estate downturn as well as sluggish manufacturing and credit activity, as Beijing shies away from directly stimulating household consumption.

However, it appears that Chinese copper fabricators have very recently started buying the metal again, with inventories recording slight decreases in the past two weeks.

The weak market in China has led copper for delivery to Shanghai to trade at a discount to the global benchmark price — a rare occurrence.