UPDATE FOR NOVEMBER 19

Copper prices fell the most in a week on signs that output

is exceeding demand as a global economic slump trims

consumption of the metal used in pipes and wires.

Production topped demand by 26,800 metric tons this year

through September, the World Bureau of Metal Statistics said

today. Inventories monitored by the London Metal Exchange

more than doubled in the past six months and are the highest

since March 2004. Prices have tumbled 47 percent this year.

``The weaker global macro picture is bearish for metal

consumption,'' Barclays Capital said today in a note. The surge

in LME stockpiles also is hurting prices, the bank said.

Copper futures for March delivery dropped 6.2 cents, or 3.7

percent, to $1.6095 a pound on the Comex division of the New

York Mercantile Exchange, the biggest drop since Nov. 11. The

metal has plunged 62 percent from a record $4.2605 in May as

economic growth stalled.

LME stockpiles, up 55 percent from a year ago to 280,050

tons, have gained for 21 straight days, the longest climb

since March 2002.