LME 3-month copper prices declined to $9,355/t on Thursday 20th January. The trigger for this price retracement was the market's concern that the Chinese authorities may tighten liquidity further due to Chinese 2010 GDP and CPI data being higher than market expectations. According to NBS, in 2010 China's GDP growth was 10.3% and in December the CPI was 4.6%.
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