(Updates with official prices)<\/p>\n
LONDON, Oct 7 (Reuters) – Copper prices rose on Thursday, helped by a recovery on global equities markets, falling exchange inventories and the threat of supply disruption at a mine in Peru.<\/p>\n
Benchmark copper on the London Metal Exchange (LME) was up 1.4% at $9,175 a tonne in official trading.<\/p>\n
Prices have, however, fallen from a record high of $10,747.50 in May as global economic growth faltered. Copper is likely to fall further before rising demand reignites its rally, said independent analyst Robin Bhar.<\/p>\n
\u201cIf you\u2019re looking to trade copper until the end of the year, you\u2019re probably on the short side. But beyond that, you\u2019d probably be long,\u201d he said.<\/p>\n
MARKETS: World equities got their foot back on the gas as hopes grew that Washington can resolve its debt-ceiling squabbles and a drop in energy prices cooled fears of \u201cstagflation\u201d.<\/p>\n
PERU: An indigenous community in Peru\u2019s Espinar province plans to block a key mining road indefinitely, a local leader said.<\/p>\n
INVENTORIES: On-warrant stocks in LME-registered warehouses fell to 82,850 tonnes from 168,075 tonnes on Sept. 21. Stocks in Shanghai Futures Exchange (ShFE) warehouses at 43,525 are the lowest since 2009. <\/span>MCUSTX-TOTAL<\/span>CU-STX-SGH<\/span><\/p>\n OUTLOOK: Copper analysts are reviewing their price forecasts after turmoil in China\u2019s construction sector and power supply.<\/p>\n The Bank of Japan offered its gloomiest view on regional economies in more than a year.<\/p>\n CHINA: Chinese markets reopen on Friday after closing for a public holiday on Oct. 1.<\/p>\n SURPLUS: The International Copper Study Group (ICSG) said the global copper market would see a deficit of 42,000 tonnes this year and a surplus of 328,000 tonnes in 2022.<\/p>\n GERMANY: German industrial output suffered its steepest drop in August since April last year, official data showed.<\/p>\n TECHNICALS: Copper has been hovering around its 200-day moving average around $9,150 a tonne. A move below this level would worsen its technical outlook.<\/p>\n OTHER METALS: LME aluminium was up 1.1% at $2,928 a tonne, zinc rose 0.6% to $3,033, nickel gained 0.9% to $18,235 and lead was 0.1% higher at $2,153.<\/p>\n Tin was down 0.1% at $35,125.<\/p>\n