GREY:EMYSF - Post by User
Post by
jimitwiston Feb 21, 2006 1:12pm
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Post# 10401506
copper
copperCopper May Rise in London on Speculation Shortfall Will Persist
Feb. 21 (Bloomberg) -- Copper may rise in London on speculation that demand may outpace supply for a fourth consecutive year, leaving consumers reliant on stockpiles that have already shrunk to three days of consumption.
A shortage of copper, used in wires and tubes, may persist until 2007, according to Peter Hollands, managing director of Bloomsbury Minerals Economics Ltd., who has spent 26 years covering metals. Copper demand will exceed production this year by 207,000 metric tons, he said in a report yesterday.
Copper for delivery in three months on the London Metal Exchange fell $9, or 0.2 percent, to $4,892 a ton as of 8:45 a.m. local time. The contract earlier traded at $4,916 a ton, the highest since Feb. 15. Prices have gained 11 percent this year