Shanghai bonded copper stocks added 1,700 mt on week

SHANGHAI, Jan 22 (SMM) — Stocks of copper in Shanghai bonded areas increased slightly for two consecutive weeks on larger arrivals.

SMM data showed that the stocks rose 1,700 mt from the prior week to 355,200 mt as of Friday January 22.

The import window continued to close this week, and the domestic spot premiums and discounts showed signs of weakening with limit import demand, leading to a slight increase in stocks. In addition, the arrivals of dollar copper will increase in late January. The import loss has not recovered, suppressing the increase of shanghai bonded copper stocks before the holiday.