Copper drops as warehouse inflows undermine shortage speculation

July 6, 2017

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Copper futures posted the biggest loss in two weeks as inventories tracked by the London Metal Exchange climbed the most since early March, dispelling concerns about potential shortages. Stockpiles rose 15% to 315 925 metric tons, bourse data show. Copper also fell as the dollar rose and crude-oil prices plunged. Lower energy prices decrease the cost of producing metals, which could lead to higher supply.

Category: General