(Bloomberg) -- Copper prices fell to their lowest in eight weeks in Shanghai on concern that rising production and inventories in China, the world's biggest consumer of the metal, may signal a glut in the market.
The world's copper surplus will rise to 520,000 metric tons next year from 280,000 tons this year, the Lisbon-based International Copper Study Group said in an e-mailed statement yesterday. Chinese production rose 17 percent in April to a record 274,000 tons, the Beijing-based National Bureau of Statistics said yesterday.
Read more at Bloomberg Commodities News
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