LME copper stocks rise to two-year high as demand falters

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On-warrant copper inventory held by the London Metal Exchange rose on Wednesday by 5.7% to the highest since September 2021.

Copper stockpiles immediately available to withdraw from the world’s top metals bourse hit the highest in almost two years, adding to evidence of flagging demand.

While warehouse inventories are sometimes used to gauge the mismatch between supply and demand, they can be impacted by individual trades and idiosyncratic market strategies. Still, the figures are just the latest signal that the copper market remains well supplied.

 

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