We’ve been following copper prices here for a while (because we stamp so much out of copper and it’s derivitive alloys).
Here’s news of a potential, slight break in the price rise …
Copper may decline for a second consecutive day in London as inventories in London Metal Exchange-monitored warehouses rose to a 14-month high.
Inventory climbed 1,825 metric tons, or 2.1 percent, to 89,575 tons, the LME said today. That’s the highest since October 2004. Stockpiles have gained 11 percent in two days.
“If further large deliveries are seen then this may well start to address some of the complacency in the market,” Will Adams, an analyst at Saffron Walden, England-based Basemetals.com, said in a report today.