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robsrdd

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robsrdd

Re: None

Wednesday, 03/04/2009 11:09:33 AM

Wednesday, March 04, 2009 11:09:33 AM

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China’s State Reserve Bureau (SRB) is stockpiling copper, Bloomberg reports. http://www.bloomberg.com/apps/news?pid=20602013&sid=amkyF.r_PfEM&refer=commodity_futures) “There are two stories: one is that the SRB is buying, and the other is a massive decline in scrap availability,” says Adam Rowley of the Macquarie Group.

China is predicted to buy 800,000 tons in the next two years, if prices stay low. The three-month contract rose 4.1% today to $3,522 a ton, after falling 54% last year.

Via Stock Research Portal Blog http://www.stockresearchportal.com/stocknews.asp)

Clearly China is expecting copper's price to rise significantly, what are you guys expecting?
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