Copper trading range for the day is 421-427.4.Copper recovered but gains were limited by caution over the demand outlook from top metals consumer China.China's latest push to revive its bloated state-owned sector is set to pick up pace this year, with bankers and investors expecting possible spin-offs.Hedge funds and money managers cut their net-long position in COMEX copper in the latest week, U.S. Commodity Futures Trading Commission data showed.
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