MT: Copper arbitrage re-opens in China on stronger yuan
Copper arbitrage has re-opened in China as expectations that a stronger yuan would boost Chinese commodities helped domestic prices outstrip LME gains. "The [policy shift] on the yuan helped to erase the negative price differential between Shanghai and LME copper," said a trader at an overseas trading house in Shanghai. Imports cost 53,780 yuan ($7,885) per tonne, he said,...