Copper Caps Weekly Drop as Inventory Gain Signals Ample Supply
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Copper futures fell, capping the first weekly decline this month, after inventories tracked by the London Metal Exchange climbed to the highest in a year, adding to signs of ample supplies.
Stockpiles at LME warehouses climbed to 298,650 metric tons Thursday, the highest since Feb. 14, 2014. The inventories have surged 68 percent this year. Copper has lost 8.3 percent this year on signs that demand is ebbing in China and Europe.