Copper’s on the verge of becoming the only major metal to post a loss this year as the highest stockpiles in almost seven months suggest the market is amply supplied. Inventories of copper, used in everything from wiring to automobiles to iPhones, rose 4.7% to 240 075 metric tons, according to London Metal Exchange data, the highest since Jan. 29. After rising as much as 9.1% by March, copper has now lost almost all its gains in 2016 as investors anticipate supply will outpace demand. It’s the worst performer among the six major metals traded on the LME.
