Copper Caps Biggest Weekly Gain Since February on Lower Supply
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Copper rose for a fifth straight day, capping the biggest weekly gain since February, as shrinking inventories signaled an improved outlook for demand.
Stockpiles tracked by the London Metal Exchange have dropped for 22 straight weeks, the longest slide since 2004. Bookings to remove metal from warehouses increased 15 percent this week, the most in two months. Inventories also contracted in China, the world’s biggest user of the metal.