Copper ‘Not Supported’ by China Buying, Scotia Adviser Liu Says
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Copper’s recent rally is “not fully supported” in the near term as demand from the power industry in China, the largest user, may fall short of expectations, said Na Liu, China strategy adviser to Scotia Capital.
China State Grid Corp., the nation’s largest operator of electricity networks, is planning an 11 percent increase in fixed-asset investment this year, the Beijing-based company said in a Jan. 10 statement. That is less than the 45 percent increase the market had been expecting, Liu said in an e-mail to Bloomberg News.