Copper Inventories in LME-Monitored Warehouses Rise 10 Percent

By Claudia Carpenter

Sept. 5 (Bloomberg) -- Copper inventories in warehouses monitored by the London Metal Exchange advanced 10 percent, the most in three years.

Stockpiles rose 18,775 metric tons to 200,875 tons, figures from the exchange today showed. That's the biggest percentage increase since August 2005 and the most inventories since Jan. 8.

Copper for delivery in three months fell $226, or 3.1 percent, to $7,000 a ton as of 9:13 a.m. on the London Metal Exchange. Prices earlier declined to $6,980, the lowest since January this year.

To contact the reporter on this story: Claudia Carpenter in London at ccarpenter2@bloomberg.net or ccarpenter2@bloomberg.net
Last Updated: September 5, 2008 04:24 EDT