Copper Market Seen by Standard Bank as Liable to ‘Tighten’
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The copper market may “tighten up” more quickly than anticipated once buying resumes from consumers in China, the world’s biggest user of the metal, according to Standard Bank Plc.
Three cities hold 69 percent of copper stockpiles tracked by the London Metal Exchange and supplies may be unavailable for immediate usage because of the required waiting times for withdrawals, according to Standard Bank analyst Leon Westgate in London. LME inventories of the metal used in pipes and wiring reached a nine-year high today.