metals moving higher, page-7

re: metals moving higher -nizar Stock piles are heading higher - I got report somewhere, but I understand the rise in inventory is the conversion of so called hidden inventories [ie stockspiles previously not included in the lme figures] now being counted in the LME. In otherwords the report base has changed.

This of course clouds the question - using the new reporting base, have stockpiles gone up or done ?

The consensus is stockpiles are up but not that greatly, and inventory will fall through till late 2006.

Keep an eye on West Papau - there is a very serious risk facing Freeport. I would say there is a 30% chance of it being shut down due to political unrest. I know a number of sub contractors are a step away from evacuating the site.

This will put a fire under copper.