Copper Stockpiles Rise Most in a Month as Chinese Demand Wanes
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Falling demand for copper is leading suppliers to stash extra metal in warehouses, pushing inventories tracked by the London Metal Exchange to the biggest increase in a month.
Copper stockpiles rose 3.6 percent to surpass 300,000 metric tons for the first time in a year, data released by the LME Wednesday show. Prices dropped as much as 0.7 percent in New York after the report, before rebounding. Societe Generale SA expects inventories to swell above 600,000 tons this year.