Copper stocks jump in New Orleans

Jul 18, 2013 | 04:16 PM | Everdeen Mason

Tags  copper, stocks, LME, warehouse, copper cathode

NEW YORK — Copper stocks in London Metal Exchange-approved warehouses in New Orleans have risen by more than 25,000 tonnes in the past month amid low physical demand and oversupply.

As of July 16, registered warehouses in New Orleans held 200,300 tonnes of copper cathode compared with 174,800 tonnes on June 17, according to the most recent LME data available.

The increase in volumes comes despite daily deliveries out of each of the city’s warehouses of 500 tonnes of copper per day, as required by the LME’s minimum load-out rules (amm.com, Nov. 15, 2012).....





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