Commodity Blog |
| Swelling Inventories Make Copper Cheaper Posted: 18 Apr 2013 07:59 PM PDT Copper futures dropped in New York today as stockpiles grew to the biggest level in 10 years. At the same time, demand was wavering amid concerns about global economic growth. Inventories monitored by the London Metal Exchange expanded 0.6 percent to 612,350 tons, the highest since September 8th, 2003. Poor macroeconomic data added to the downside momentum of copper. The manufacturing index of the Federal Reserve Bank of Philadelphia slipped from 2.0 in March [...] |
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