The recovery in copper prices from six-year lows has been driven by stocks of refined metal flowing into China and a string of mine closures that promise to tighten the market over the next couple of years.
Copper plummeted to its lowest level since the financial crisis in August, falling below $5,000 a tonne on concerns about slowing growth in China, the world’s biggest consumer of the commodity. The metal is seen by many as a barometer of global growth prospects.
But the price jumped more than 5 per cent last week after Glencore
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