{"id":148,"date":"2007-08-28T14:01:48","date_gmt":"2007-08-28T14:01:48","guid":{"rendered":"http:\/\/www.the-finance-zone.co.uk\/uncategorized\/copper-falls-as-stockpiles-rise\/"},"modified":"2007-08-28T14:01:48","modified_gmt":"2007-08-28T14:01:48","slug":"copper-falls-as-stockpiles-rise","status":"publish","type":"post","link":"https:\/\/the-finance-zone.co.uk\/index.php\/2007\/08\/28\/copper-falls-as-stockpiles-rise\/","title":{"rendered":"Copper falls as stockpiles rise"},"content":{"rendered":"<p>Base metals fell on Tuesday, led by copper, as inventories of the industrial metal rose to a three-month high, stoking fears of a glut.<\/p>\n<p>Copper for three-month delivery on the London Metal Exchange fell 1.6 per cent to $7,200 a tonne as stockpiles of the metal, used in plumbing and electrical wiring, rose 8 per cent.<\/p>\n<div class=\"ad-placeholder ad-mpusky\" id=\"ad-placeholder-mpusky\" \/>Concerns over the US economy, particularly the state of the country\u00e2\u20ac\u2122s housing market, were underlined on Monday by weaker-than-expected existing home sales. And while new home sales in July bounced unexpectedly, analysts said they were rallying off very low levels, and that further drops were expected.<\/p>\n<p>Rising stockpiles of other metals also contributed to weakness. Nickel inventories rose 9.4 per cent to a 15-month high, forcing three-month futures down 3.4 per cent to \u00e2\u201a\u00ac26,750 a tonne. Aluminium lost 0.4 per cent to $2,550 a tonne.<\/p>\n<p>Oil prices were flat as concers over US growth were tempered by expectations of tight supply of petrol ahead of US inventory data on Wednesday.<\/p>\n<p>A number of refinery outages have added to concerns over the supply of petrol, but as the US driving season draws to a close, the numbers were likely to provide less of a shock to investors, analysts said.<\/p>\n<p>\u00e2\u20ac\u009dConcerns about slowing US economic growth will dominate sentiment,\u00e2\u20ac\u009d said Edward Meir at Man Financial.<\/p>\n<p>By late morning in London, Brent crude for October delivery was up 11 cents at $71.06 a barrel, while Nymex West Texas Intermediate added 17 cents a barrel to $72.14 a barrel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Base metals fell on Tuesday, led by copper, as inventories of the industrial metal rose to a three-month high, stoking<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[8,48],"tags":[],"class_list":["post-148","post","type-post","status-publish","format-standard","hentry","category-commodities","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=148"}],"version-history":[{"count":0,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/148\/revisions"}],"wp:attachment":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}