Caixin OnlineFinance & EconomicsTop Stories Finance Hot Copper Shorts Burning Commodity Firms
05.30.2012 16:08

Hot Copper Shorts Burning Commodity Firms

As prices soar, Jiangxi and others say they've been forced to cover short positions by exporting
By staff reporters Wang Ziwu, Gu Yongqiang and Fan Junli
 
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(Beijing)–China has long been the world's largest consumer and a net importer of copper, which makes exporting large quantities of the metal seem counterintuitive.

Yet Jiangxi Copper International Trading Co. Ltd. announced in May that it would join hands with other domestic traders and smelters and begin exporting refined copper, shipping it to transaction warehouses designated by the London Metal Exchange (LME).

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