Economy & Business - October 2005

Copper: The price of the metal surged again at the beginning of October as stocks of the metal at London Metal Exchange warehouses fell to under 80,000t. Even so, copper stocks are more than three times the low of 25,525t they hit on 22 July. Some traders had expected copper prices to weaken on the expectation that supply and demand would be more or less in balance, at 17.6m t, in 2006 and thereafter supply would exceed likely demand. Copper touched an all time high on the New York Comex exchange, US$1.76 per pound.

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