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MJ COMMENT
Supercycle talk accelerates
It has been a busy few days for the London Metal Exchange. Following its annual dinner on October 12 the LME was forced to step in to soothe pandemonium in the copper market after rapidly depleting inventories saw prices surge above US$11,000/tonne.
The LME said on October 19 it would change certain requirements within its lending rules, namely where large holders of metal are required to lend it back to the exchange, and introduce a limit on backwardation....
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