METALS-Copper drifts lower as demand worries linger


* LME week draws to close, demand issues resurface

* Copper inventories jump but aluminium stocks fall

* Equities march higher during banks' reporting season


LONDON, Oct 16 (Reuters) - Copper eased on Friday as rising
inventories and persistent worries about metals demand offset
improving U.S data and rallying equities.

By 0931 GMT, copper for three month delivery on the
London Metal Exchange fell to $6,215 a tonne from $6,289 at the
close on Friday and compared with a session low at $6,195.

Metals analysts during London Metal Exchange Week, which
brings global major metals players together in London for annual
gatherings, have warned about strong prices and weak demand.

Highlighting this, LME copper inventories continued to rise,
indicating demand has yet to recover outside China, the world's
largest metals consumer. The latest data showed stocks rose
4,525 tonnes to total 357,850 -- their highest level since
mid-May.

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In other base metals.

Aluminium rose $5 to trade at
$1,920. LME stocks for the metal, used in transport and
packaging, shed 3,600 tonnes to maintain its steady drift away
from record levels above 4.6 million tonnes.

Nickel, Steel making ingredient traded at $18,694 from
$18,800 .

While battery material lead was at $2,203 from
$2,210.

Zinc traded at $2,040.50 a tonne from $2,036 and
tin was at $14,425 from $14,450.

Investors in tin remain concerned about supplies because of
a dominant position controlling more than 90 percent of cash
warrants on LME stock.

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Gold & PGM Prices

Oct 16 2009 7:38AM NY Time dd Change Gold 1047.10 -0.33% Platinum 1341.00 -0.59% Palladium 324.00 +0.00% Rhodium 1625.00 +0.77%