High prices and low credit hamper copper stockpiles

HONG KONG - Fabricators in China are likely to stock less copper than normal ahead of the lunar new year holiday because of high prices and tight credit, traders said on Wednesday.

Suppliers were keen to sell more to obtain cash. That could weigh on prices and cut China's spot copper imports until many fabricators resume full operations in late February or early March.

"This year, pre-holiday purchases by fabricators have not been as good as previous years. High prices are making them cautious in building stocks," a trader at a large copper smelter said.