Officials at the China Nonferrous Metals Industry Association said that metal recyclers forced to close by collapsing commodity prices could reopen thanks to a price rebound, Bloomberg reported. After “almost all” of China’s metal recycling industry halted in October last year, spending related to Beijing’s stimulus package has seen China almost double imports of copper in 2009. Strong demand has pushed prices of copper in London up 53% since January; prices had fallen 66% between July and December 2008. About 40% of the world’s copper demand is met by recycling due to the high cost of copper mining.
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