Copper Rebound Continues as Market Eyes China Arbitrage

-- Copper extended its rebound from the lowest close in five months as orders to withdraw the metal from London Metal Exchange warehouses suggested China’s demand slump may have bottomed out.NYC Subway Riders See ‘Exceptionally High’ Air Pollution

Since then, an arbitrage window to import refined copper to China has reopened, causing premiums for the metal there to rise, while orders to withdraw units from the LME have started increasing. LME data Monday showed on-warrant stocks dropped by 7,375 tons. Copper may rebound toward $9,100 a ton as concerns over the possibility of a global recession ease, Jinrui Futures Co. said in a note. Investors are waiting for clearer guidance from the macro economy and more inventory drawdowns, it added.Gen Zers are investing their way out of the 9-to-5NEW YORK — Aaron Rodgers says in a soon-to-be published book that he should have handled discussing his COVID-19 immunization status differently.

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