Copper Declines as Inventory Gains to Highest Since 2003
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Copper futures fell for the fourth time in five sessions on signs of ample global supplies as a measure of inventory climbed to the highest in nine years.
Stockpiles monitored by exchanges in the U.S., London and Shanghai have surged 45 percent this year to the highest since November 2003. Production of the refined metal exceeded demand by 168,600 metric tons in December, the biggest surplus in six years, the International Copper Study Group said today.