Inventories hobble copper

Arizona Republic

Copper prices fell in New York as U.S. inventories of the metal rose to an eight-month high.

[…] Global stockpiles will continue to rise as production is forecast to increase 5.3 percent next year, creating a surplus of 404,000 tons […]

‘Copper is trading lower because of higher inventories,’ said John Gross, director of metals management at Scott Brass Inc. in Cranston, R.I. ‘The market is also seasonally softer.’

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