Copper Prices Clawing Their Way Back

Copper stockpiles tracked by the London Metals Exchange dropped to their lowest level in 6 months ... Global inventory now equals just four days' supply ... the strike continues at Group Mexico, that nation's largest copper producer, which has vowed to close its La Caridad Mine rathr than meet miners' demands ... Other miners facing labor contract renewals include Teck Cominco, Codelco and BHP's Escondida Mine, which alone accounts for 7% of world copper supply ... demand for copper is going to exceed supply by 184,000 metric tonnes in 2006 according to Credit Suisse Group.

And yet copper is STILL down 22% from its recent highs?

Sounds like a disconnect in the market ... one that could be fixed rather quickly.

Check out my new gold and energy blog at MoneyAndMarkets.com