By Daily Crux Editor Sean Goldsmith:
Copper's 80% rally this year could be coming to an end.
Inventories have risen for the second straight week, and Sumitomo Metal Mining Co., Japan's second-largest smelter, said Chinese imports are slowing on the back of the country's record purchases. U.S. copper scrap exporters also noted fewer shipments to Asia.
It looks like China's recent record purchases of the metal have supplied the country with all the copper it will need coming out of the recession. When the world's biggest buyer of your product stops buying, look out below…
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