Demand for copper unlikely to rebound fast, traders say

Dec 22, 2006 | 04:42 PM | Sean Barry

Soft demand for copper is expected to continue into the New Year as consumers report weak order books in the wake of the U.S. housing slump, according to traders.

Copper inventories remain high at the Comex division of the New York Mercantile Exchange—32,883 short tons at the close of business Friday—and traders reported very quiet market conditions, with consumers pushing delivery dates further out.

Rod mills continue to see faltering orders for such products as plumbing tube and building wire following a major slowdown in the residential construction market. De-stocking by consumers and distributors ahead of the end of the year also soured the market, traders said.....

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