Home / Metal News / SHFE Copper Stocks Rise 12%; Bonded Copper At 30,104 Tons

SHFE Copper Stocks Rise 12%; Bonded Copper At 30,104 Tons

iconMar 21, 2011 14:51

SHANGHAI, Mar 20, 2011 (Dow Jones Commodities News via Comtex) -- The Shanghai Futures Exchange had 30,104 metric tons of copper at bonded warehouses as of Friday, boosting the bourse's inventory by 12% from a week earlier, it said in a statement.

Total copper stocks at SHFE registered warehouses reached 177,365 tons, it said.

This is the first time that SHFE has unveiled the amount of copper at selected bonded warehouses since it started accepting warrants March 16 for a pilot program that allows bonded commodities to be registered under warrant.

Under the program, commodities which have been shipped into bonded warehouses in Shanghai without paying a 17% value-added tax will become eligible for delivery against SHFE contracts. Copper and aluminum were the metals selected for the trial program, and the exchange appointed two warehouses in Yangshan Port in Shanghai.

No bonded aluminum was reported in the statement.
 

 

 

consumption
copper Cu
demand
inventory
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news