BLBG: Copper Slips in N.Y. as Rising Inventories Spur Demand Concerns
By Ted Bunker
Sept. 17 (Bloomberg) -- Copper prices declined in New York for the first time in three days as inventories grew in warehouses monitored by exchanges in London and Shanghai.
Copper futures for December delivery dropped 3.5 cents, or 1.2 percent, to $2.9015 a pound at 8:12 a.m. on the New York Mercantile Exchange’s Comex division. Stockpiles gained 0.4 percent today in London and rose 12 percent last week in Shanghai, a sign that demand may not be keeping pace with prices, which have more than doubled this year.
