Copper dips on rising inventories


    HANOI- Copper prices fell on Wednesday after inventories in warehouses tracked by the London Metal Exchange rose to their highest in more than two months.

    Three-month copper on the London Metal Exchange dipped 0.1 percent to $8,953 a ton, while the most-traded May copper contract on the Shanghai Futures Exchange fell 1.5 percent to 66,380 yuan ($10,208.22) a ton.

    LME copper inventories jumped 12 percent to 103,900 tons in one session, their highest since Jan. 8 , while stockpiles in ShFE warehouses were last at 171,794 tons, a level unseen since September.

    Meanwhile, Chilean miner Antofagasta expects to reach a pay deal with its workers this month, as wage talks at its Los Pelambres mine extended into next week in an effort to avoid a strike.