Europe’s copper stocks rise on falling demand: Aurubis
Mar 06, 2013 | 01:01 PM
| Mark Burton
Tags
Aurubis,
Peter Willbrandt,
Metal Bulletin International Copper Conference,
London Metal Exchange,
LME stocks,
copper,
warehouses,
Mark Burton
LONDON — The sharp rise in copper cathode stocks stored in London Metal Exchange warehouses in Antwerp, Belgium, reflects weaker demand in Europe this year, according to Aurubis AG chief executive officer Peter Willbrandt.
LME stocks have risen nearly 90 percent since the beginning of December to around 473,000 tonnes currently. Antwerp has become the second-largest store of copper in the LME network in that time, with stocks there rising nearly 100,000 tonnes.
"Stocks in warehouses in China are stable," Willbrandt said on the sidelines of the 26th International Copper Conference in Madrid sponsored by AMM sister publication Metal Bulletin. "What we have seen is an increase in stocks in Europe, and this is a reflection of the weak demand here."....
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