(Bloomberg) -- Copper declined in London after
stockpiles of the metal jumped the most in almost eight months,
indicating slowing demand. Nickel also dropped while lead pared
gains that drove it to a record.
Copper inventories tracked by the London Metal Exchange
climbed 5,400 metric tons, or 4.7 percent, to 119,600 tons, the
exchange said today in a daily report. That's the largest one-
day gain since Oct. 25. Metal purchases in China, the world's
largest user, will remain sluggish for the next few months as
consumers rely on existing stockpiles, Sudakshina Unnikrishnan,
an analyst at Barclays Capital said.
Read more at Bloomberg Commodities News
stockpiles of the metal jumped the most in almost eight months,
indicating slowing demand. Nickel also dropped while lead pared
gains that drove it to a record.
Copper inventories tracked by the London Metal Exchange
climbed 5,400 metric tons, or 4.7 percent, to 119,600 tons, the
exchange said today in a daily report. That's the largest one-
day gain since Oct. 25. Metal purchases in China, the world's
largest user, will remain sluggish for the next few months as
consumers rely on existing stockpiles, Sudakshina Unnikrishnan,
an analyst at Barclays Capital said.
Read more at Bloomberg Commodities News
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