By Chanyaporn Chanjaroen
Aug. 29 (Bloomberg) -- Copper may decline next week after stockpiles of the metal expanded, increasing supply.
Nine of 19 analysts and traders surveyed yesterday and Aug. 27 forecast copper prices would drop. Seven expected a gain and three were neutral. Copper for delivery in three months on the London Metal Exchange has declined 1.9 percent this week.
LME-tracked copper inventories rose 2,200 metric tons, or 1.3 percent, to 170,050 tons yesterday, the highest since Feb. 6.
This week's survey results:
Bullish: 7 Bearish: 9 Neutral: 3
To contact the reporter on this story: Chanyaporn Chanjaroen in London at cchanjaroen@bloomberg.net
Friday, August 29, 2008
Copper May Fall Next Week as Stockpiles Rise, Survey Says
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