Copper Inventories in Shanghai Decline for the First Time in Three Weeks

Aug 20, 2010--- (Bloomberg)

Copper stockpiles in Shanghai shrank for the first time in three weeks, the Shanghai Futures Exchange said in a report on its website.

Inventories of the metal fell by 3,499 metric tons, or 3.1 percent, to 110,371 tons, based on a survey of six warehouses in Shanghai, the exchange said today.

Stockpiles of aluminum fell for a second week, by 763 tons to 491,488 tons, based on a survey of 11 warehouses in Shanghai, Guangdong, Jiangsu and Zhejiang, the exchange said.

Zinc stockpiles decreased for the first week in three to 235,972 tons, based on a survey of eight warehouses in Shanghai, Guangdong and Zhejiang, the bourse said. Inventories dropped by 12,901 tons, the largest tonnage decline since the week ending June 17.

Natural rubber inventories expanded for a fourth week, growing by 2,858 tons to 24,733 tons, based on a survey of 10 warehouses in Shanghai, Shandong, Yunnan, Hainan and Tianjin, the exchange said.