(Bloomberg) -- Copper futures in New York tumbled
more than 3 percent to a seven-week low on concern that metal
inventories in China, the biggest consumer, will climb,
signaling excess supplies.
Stockpiles monitored the Shanghai Futures Exchange have
more than tripled in 2007 to the highest in three years. The
exchange will release its weekly inventory report tomorrow.
Copper has fallen 10 percent this month on concern that growing
supplies in China will lead to a widening surplus of the metal
used in wires and pipes.
Read more at Bloomberg Commodities News
more than 3 percent to a seven-week low on concern that metal
inventories in China, the biggest consumer, will climb,
signaling excess supplies.
Stockpiles monitored the Shanghai Futures Exchange have
more than tripled in 2007 to the highest in three years. The
exchange will release its weekly inventory report tomorrow.
Copper has fallen 10 percent this month on concern that growing
supplies in China will lead to a widening surplus of the metal
used in wires and pipes.
Read more at Bloomberg Commodities News
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