China's lending surge fuels speculative copper bubble

摘要

Wen Jiabao's economic stimulus plans may have done more to prop up China's cop per futures market than the real economy, as a frenetic increase in lending coincides with record futures trading volume. Faced with a rising market that defies fundamentals, market sources have looked for explanations ranging from Beijing's stockpiling activities to the tight coppers crap market and the arbitrage.