Copper prices drop on growing stockpiles
by Elaine Frei

Base metals prices fell Tuesday as gains in the US dollar strengthened versus the euro and as inventories saw gains.
Copper was down 5 cents to $3.42 per pound in New York, while three-month copper dropped $80 to $7,580 per tonne in London as London Metal Exchange stockpiles added 3,100 tonnes during the session to 166,900 tonnes, a gain of 52 percent since May and as it was rumored that Shanghai inventories were also rising.
Aluminium prices fell by $12 to $2,768 per tonne while lead was down $30 to $1,855 per tonne, zinc fell $40 to $1,790 per tonne, tin was around $200 lower to $20,700 and nickel dropped $770 to $20,030.
On the other hand, precious metals prices were higher.
December gold added $1.80 to $827.50 per troy ounce while December silver jumped 19 cents to $13.67 per troy ounce after oil prices saw gains as investors looked for places to protect their money from inflation.
Add to Bookmarks:
Related posts to: Copper prices drop on growing stockpiles
Base metals inventories continue to decline ...
Copper, lead prices drop on growing inventories ...
Base metals prices mixed on news, inventories ...
Investors sell precious metals, prices drop ...
Lead, copper prices lower on inventories ...
Latest Metals News:
BHP Billiton scraps plans to acquire Rio
Base metals see more price declines
Copper prices fall on inventories, US housing data
Copper, aluminium gain after early declines
Gold drops half a dollar in New York
Copper pares gains on US retail data
Copper, aluminium inventories continue to climb
Alcoa delays expansion at Wagerup and cuts production
Platinum, palladium down on auto sector problems
China’s stimulus plan sends most metals higherPrevious: « Australia approves Chinalco investment in Rio Tinto PLC
Next: Most metals higher on oil; silver prices decline »
Visited 1274 times, 20 so far today