Copper Stockpile Near 16-Month High on Storage Incentive, Supply
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Copper stockpiles in warehouses monitored by the London Metal Exchange climbed to the highest level in almost 16 months on deliveries amid weak demand and incentives storage companies offer to attract metal.
Inventories climbed for an eighth session, rising 1.5 percent to 430,725 metric tons, the highest level since Oct. 28, 2011. A total 4,450 tons of copper were delivered into the Belgian city of Antwerp, where inventories more than doubled this year to 101,125 tons. Stockpiles in Johor also more than doubled to 56,600 tons, while New Orleans LME copper climbed 62 percent this year to 124,325 tons, the highest since January 2012.