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Copper drops as global stockpiles rise to near five-year high

Posted on 30 December 2008

From Bloomberg: Copper declined in London after stockpiles jumped to the highest in nearly five years as a global slowdown cuts raw material demand.

London Metal Exchange-monitored inventory jumped by 5,250 metric tons yesterday, to 336,700 tons, the highest since Feb. 9 2004. The stockpiles have increased 71 percent this year while copper prices are down 56 percent, heading for the first annual decline since 2001….. Full Article: Source


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