Spot copper averaged $1.4785 on Comex during January, up 9.05¢, or 6.5% from $1.3880 during December, but was off $1.7232, or 53.8% from $3.2017 during January 2008.
Inventories held in Comex and LME warehouses rose 157,180 MT during January to 528,030 MT, representing a 42.4% increase from 370,850 MT at the end of December. On a year-over-year basis, stocks climbed 337,549 MT, or 177% from 190,481 MT last January.
See below for a chart covering 1988 through January 2009.
