Wednesday, December 13, 2006
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.'
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.'
Labels: Copper
