(Bloomberg) -- Copper rose in London after posting
the largest weekly decline in more than three months, underpinned
by a 23 percent drop in metal stockpiles this year that suggests
more demand. Nickel fell.
Inventories of copper monitored by the London Metal Exchange
fell 1,250 metric tons, or 0.9 percent, to 140,075 tons, the
exchange said today in a daily report, the lowest level since
Nov. 2. Goldman Sachs Group Inc. raised its 2007 price forecasts
for copper 6.5 percent on speculation ``strong'' growth in China
will offset ``weakness'' in U.S. demand.
Read more at Bloomberg Commodities News
the largest weekly decline in more than three months, underpinned
by a 23 percent drop in metal stockpiles this year that suggests
more demand. Nickel fell.
Inventories of copper monitored by the London Metal Exchange
fell 1,250 metric tons, or 0.9 percent, to 140,075 tons, the
exchange said today in a daily report, the lowest level since
Nov. 2. Goldman Sachs Group Inc. raised its 2007 price forecasts
for copper 6.5 percent on speculation ``strong'' growth in China
will offset ``weakness'' in U.S. demand.
Read more at Bloomberg Commodities News
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