Shanghai Copper Stockpiles Jump 22% to Two-Month High

Jul. 15 (Bloomberg) –Copper stockpiles monitored by the Shanghai Futures Exchange surged 22 percent to a two-month high, while aluminum inventories declined to a 22-month low.

Copper stockpiles jumped 19,963 metric tons to 109,461 tons, according to a survey of 10 warehouses in Shanghai, the bourse said on its website today. Inventories in two bonded warehouses added 19,491 tons to 91,023 tons.

Aluminum inventories declined for a 18th week, losing 23,065 tons to 215,829 tons, the lowest level since August 2009, according to a survey of 20 warehouses in Shanghai, Guangdong, Jiangsu and Zhejiang provinces.

Zinc stockpiles fell 39 tons to 401,826 tons, based on a survey of 15 warehouses in Shanghai, Guangdong and Zhejiang, while lead stored in the warehouses added 3,290 tons to 56,273 tons, the data showed.

Natural-rubber inventories dropped for the first time in seven weeks, falling 285 tons to 16,543 tons, based on a survey of 10 warehouses in Shanghai, Shandong, Yunnan, Hainan and Tianjin, the bourse said in the weekly report.