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Copper at Risk of Depressed Prices as Rumors of China Crackdown Loom

  • Aired: 1/30/2014
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Synopsis >

Copper prices fall on Wednesday, but traders are more worried about depressed prices during the coming months as rumors mount that China will crack down on businesses using copper as collateral on loans and financing. Independent metals trader Eric Zuccarelli tells TheStreet's Joe Deaux that China made a similar move on iron holdings, which he says could bode for similar action on copper. Zuccarelli says this means investors should beware of a sharp move down in prices to as low as the $2.70s.

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