Copper stocks still rising in New Orleans

Feb 08, 2013 | 03:30 PM | Suzy Waite

Tags  London Metal Exchange, LME, copper, warehouses, Metro International, JPMorgan, Henry Bath, Pacorini Noble

NEW YORK — More than 11,000 tonnes of copper have been delivered into London Metal Exchange-listed warehouses in New Orleans this month as incentives from warehousing companies entice traders to use the market of last resort amid slow spot demand.

Some 11,600 tonnes of copper have entered the city’s LME-registered warehouses since Jan. 31, with just 50 tonnes shipped out. New Orleans copper stocks stood at 111,075 tonnes and canceled warrants totaled 3,075 tonnes Feb. 8 vs. stocks of 75,775 tonnes and cancelled warrants of 13,550 tonnes Jan. 2.....

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