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Stock impact report

Copper Rebounds as China Industry Group Calls for Stockpiling [Yahoo! Finance Canada]

HONG KONG EX&CL UNSP/ADR (HKXCY) 
NASDAQ:AMEX Investor Relations: hkexgroup.com/investor-relations?sc_lang=en
Most Read from Bloomberg Prices rose as much as 4.6% to $13,478 a ton on the London Metal Exchange, following an 11% plunge from a record high last Thursday to Monday's close. Other base metals also climbed on the LME, while gold and silver rallied sharply. Prices had already been rallying ahead of the remarks on stockpiling amid signs of dip-buying from investors in China, the biggest consumer of the metal. Fabricators and manufacturers in the country also returned after weeks away from the heated market, replenishing stocks ahead of this month's Lunar New Year holiday. “Fabricators are willing to step in and buy when there is a correction of more than 10%,” said Li Xuezhi, head of research at Chaos Ternary Futures Co. Funds will also come in to buy the dip for copper with strong fundamental support, he added. Investors have been piling into metals amid doubts about the US dollar and a shift away from currencies and sovereign bonds, driving frenzied price rallies across the Show less Read more
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