(Bloomberg) -- Copper rose in London, paring yesterday's losses, as investors judged selling had been exaggerated because Chinese demand and falling stockpiles will underpin the price of the metal used in pipes. Nickel declined.
London Metal Exchange-monitored copper inventories fell 1.8 percent to 163,200 metric tons, the exchange said today in a daily report. That's the biggest one-day drop since March 23. Stockpiles are at their lowest since Dec. 7. Copper fell 2.4 percent yesterday after sales of previously owned homes in the U.S. declined in March to the lowest level in almost four years.
Read more at Bloomberg Commodities News
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