Shanghai bonded copper stocks fell 7,100 mt on week

SHANGHAI, Dec 4 (SMM) — Stocks of copper in Shanghai bonded areas decreased for two consecutive weeks.

SMM data showed that the stocks fell 7,100 mt from the prior week to 359,900 mt as of Friday December 4.
 
When the import window opened last week, the spot import profit drove the demand for customs declaration import to heat up rapidly. Cargoes of warehouse receipts flowed out of the bonded warehouse one after another, which led to a further decline in inventories.