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International copper price hits 7-month high
3/5/2019 |
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It was reported that the international copper prices hit a 7-year high recently, reaching US$6,500/ton, which was driven by the ease of trade war.
The latest data released by the International Copper Study Group (ICSG) showed that the global copper production grew by 2.4% in the first 11 months of 2018, the output of refined copper increased by 1.5%, and the consumption was up by 2.2%.
After balancing, there was a shortage in refined copper of 395,000 tons in the world. The copper inventories in the London Metal Exchange (LME) have dropped to a new low since August 2005. |
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