Copper Falls on Concern Demand Is Weak Amid Ample Inventories
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Copper fell in New York on concern physical demand remains weak amid ample inventories of the metal and signs that work on new mines is proceeding.
Copper stockpiles monitored by the London Metal Exchange doubled since the end of September and those tracked by the Shanghai Futures Exchange are at a one-year high. Customers are “very careful” and ordering copper on short notice, according to Aurubis AG. Freeport-McMoRan Copper & Gold Inc. is pressing ahead with expansion projects.