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Article: United Kindom : Copper Falls to One-Week Low in London as Stockpiles Expand.
- Article from:
- TendersInfo
- Article date:
- January 23, 2009
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Byline: sanjayV03
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 rose 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.
We re still not so positive on metals in the first half because of inventory buildup, Thomas Benedix, an analyst at Tiberius Asset Management ...