Shanghai-bonded copper stocks drop 20,000 mt on week

SHANGHAI, Jun 21 (SMM) – Copper stocks across Shanghai bonded areas continued to fall this week, declining 20,000 mt from Friday June 14 to stand at 462,000 mt as of Friday June 21, showed SMM data.

Fewer arrivals at ports and an open import arbitrage window, which triggered an influx of seaborne cargoes to the domestic market, accounted for the lower bonded inventories.