Copper Falls, Capping Annual Drop, as Global Supply Gains
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Copper prices fell in London, capping a 7.2 percent annual decline, as inventories in 2013 climbed for the first time in four years.
Stockpiles monitored by the London Metal Exchange gained 14 percent this year. Mine openings and expansion from Peru to Mongolia will leave a supply surplus of 127,000 metric tons in 2014, Barclays Plc has forecast. Economic growth in China, the world’s biggest user of the metal, has slowed every year since 2010.