Copper Futures Rise as Inventories Fall, Spread Spot Price Grows
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Copper futures gained as inventories declined for a sixth day and after the cost of the metal for immediate delivery rose to the most expensive in a year relative to three-month contracts, indicating tighter supply.
Copper for delivery in three months on the London Metal Exchange climbed as much as 1 percent to $6,976 a metric ton and was at $6,935.50 at 1:11 p.m. in Shanghai. The price touched $6,982 yesterday, the highest since June 19.