Read here for an updated price and inventory chart from The Copper Journal.

Copper rose for the tenth consecutive month, reaching its highest level since last October, while more surplus metal went into warehouse.

Spot copper averaged $2.8786 on Comex during October, up 6.38¢, or 2.3% over $2.8148 in September and was up 69.3¢ or 31.7% over $2.1857 last October.

The year to date average now stands at $2.2027, off $1.2503, or 36.2% from $3.4530 during the first ten months of 2008.

Inventories held in Comex and LME warehouses rose 33,644 MT, or 8.5% during October to 427,960 MT, and are up 57,110 MT from year end. On a year over year basis, stocks have risen 188,336 MT, or 79% from 239,624 MT last October.

See below for a chart covering 1988 through October 2009.

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