15th day of Cu inventory drops on the LME in a row. Gotta be a good sign:
from Bloomberg:
Falling Inventories
Copper may gain as falling inventories signaled stronger demand, said Eliane Tanner, an analyst at Credit Suisse Group AG in Zurich. Warehouse stockpiles tallied by the London Metal Exchange fell for a 15th day to 520,675 metric tons, the lowest level since Jan. 12.
We are still positive on the complex, first of all because of the decline in inventories on the LME, Tanner said. We also expect the economic recovery to continue, so we expect demand to pick up.
Copper for delivery in three months fell 0.1 percent to $7,440 a metric ton ($3.38 a pound) at 6:54 p.m. on the LME. Nickel and tin rose. Aluminum, lead and zinc dropped.
To contact the reporters on the story: Anna Stablum in London at [email protected]; Millie Munshi in New York at [email protected].
- Forums
- ASX - By Stock
- PNA
- moving upwards
moving upwards, page-3
-
-
- There are more pages in this discussion • 9 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add PNA (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online