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Commodities Corner: Will copper’s revival last? China is the X-factor

Last year’s hefty loss for copper has given way to an impressive start in 2019, with tight supplies and expectations of strong demand pumping up prices.

Some analysts see further gains ahead. Others warn that copper’s path isn’t clearly bullish, given its close ties to demand from China, its biggest consumer.

After plunging 20% in 2018, copper futures rose 5.8% in January — the largest monthly advance since December 2017. This week, the futures HGK9, +1.71% settled at a seven-month high above $2.95 a pound, lifting their year-to-date gain to 11%.

Read:Gold logs a gain as the dollar slips, notches second straight weekly gain

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