Copper Prices Get a Bump from External Factors; China’s Inventories Hold the Key

The recent bump in the price of copper has little to do with underlying fundamentals of supply and demand for the electrical industry's favorite metal. Countervailing forces in the world economy, combined with uncertainties about the size and movement of metals inventories within China, suggest that the dislocation between price and fundamentals may well continue.

Copper hit the highest prices seen in the past five months last week, peaking at $3.85 per pound on the Comex market and $

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