Copper Rises to 27-Month High in New York on Supply Concerns
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Copper prices rose in New York, extending a rally to a 27-month high, on signs that global demand will outpace supplies.
Inventories monitored by the London Metal Exchange have dropped to the lowest level in a year amid analyst forecasts for a global shortfall this year and next. Copper has gained 6 percent this month, partly because of the dollar’s decline. The greenback rebounded today against a basket of currencies.