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Chinese stockpiling spurs copper price rally


Copper stockpiling by a secretive Chinese state organisation has helped trigger an impressive rally of 28 per cent in the price of the metal this year.

SRB’s decisions are shrouded in secrecy, making it virtually impossible to assess accurately how much the Chinese government has bought.

Traders believe China is rebuilding its strategic stocks because the current price is less than half last year’s record $8,940 a tonne and also to support its struggling local copper smelters and avoid job losses.

stockpile 〈…を〉(大量に)備蓄する

shroud in 〈…を〉おおい隠す,おおう,包む ★通例受身で

smelter 製錬業者,製錬工

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