Copper trading range for the day is 421.9-431.9. Copper recovered on short covering after prices dropped on concerns over demand in top consumer China pushed investors to sell the metal. Indonesia said it planned to acquire Rio Tinto's, stake in the Grasberg copper mine operated by Freeport-McMoRan Inc, potentially solving a drawn-out problem for all three parties. Jiangxi Copper says, global supply of refined copper is sufficient with stable supply of copper concentrate, which will last to next year.
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