Copper Falls as LME Inventories Grow

Bloomberg reported that copper fell on the LME due to growing stockpiles, creating concerns about supply and demand.

As quoted in the market report:

The huge inventories are weighing on copper prices, curbing any rally in spite of a strong expectation of a demand revival,” said Cao Yanghui, an analyst at Nanhua Futures Co. “There is no strong positive news or data right now to drive it higher, and we’ll probably have to wait till March to see whether the consumption can really improve in China.

To view the whole Bloomberg report, click here.