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Copper falls to one-week low in London as stockpiles expand

Post Time:Jan 22,2009Classify:Industry NewsView:115

Copper fell to a one-week low in London, dropping for a third consecutive day, as expanding stockpiles of the metal signaled worsening demand. Aluminum rebounded from a five-year low.

Inventories of copper in warehouses monitored by the London Metal Exchange jumped 1.2 percent to 422,450 metric tons, the highest since January 2004. The economy in China, the largest user of the metal, grew 6.8 percent in the last quarter, the slowest pace in seven years, the statistics bureau said today, according to a Jan. 22 Bloomberg report.

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Source: http://www.glassmagazine.com/news-item/commercial/copper-falls-one-week-low-london-stockpiles-expandAuthor:

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