JULY 12 SATURDAY

Copper Climbs in New York as Stockpiles Fall, Peru Strike Nears .

Copper rose as falling inventories and labor unrest in Peru

increased concern that supplies may trail demand this year.

Stockpiles monitored by the London Metal Exchange dropped

725 metric tons to 124,125 tons today, and inventories have

slumped 37 percent this year. Freeport-McMoRan Copper

& Gold Inc.'s Peruvian copper-mine workers plan to go on

strike July 16. Before today, copper jumped 22 percent this

year partly boosted by supply concerns.

Copper futures for September delivery rose 1.9 cents,

or 0.5 percent, to $3.7375 a pound at 12:44 p.m. on the

Comex division of the New York Mercantile Exchange.

Copper also gained today as a slump in the dollar boosted

the appeal of commodities as a hedge against inflation.

On the London Metal Exchange, copper for delivery in

three months gained $40, or 0.5 percent, to $8,270 a

metric ton ($3.75 a pound).