LME Copper Stockpiles to Climb on China Re-Routing, Sucden Says
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Copper stockpiles in London Metal Exchange warehouses may gain as traders in China re-route metal previously intended for imports because of ample local supplies and slow seasonal demand, according to Sucden Financial Ltd.
“The re-routing will probably continue until Chinese New Year,” said Jeremy Goldwyn, who oversees business development in Asia for London-based Sucden and has been in the metals business for more than 20 years. The week-long Chinese holiday, when many plants suspend output, runs from Feb. 2.