Copper Inventories in Shanghai Advance to Two-Month High

Jul. 22 (Bloomberg) –Copper stockpiles monitored by the Shanghai Futures Exchange increased for a second week, while aluminum inventories declined to a 23-month low.

Copper stockpiles climbed 2,585 metric tons to 112,046 tons, the highest level since May, according to a survey of 10 warehouses in Shanghai, the bourse reported on its website today.

Aluminum inventories decreased for a 19th week, losing 12,052 tons to 203,777 tons, the lowest level since August 2009, according to a survey of 20 warehouses in Shanghai, Guangdong, Jiangsu and Zhejiang provinces.

Zinc stockpiles declined for a second week to 400,726 tons, down 1,100 tons, based on a survey of 15 warehouses in Shanghai, Guangdong and Zhejiang, while lead stored in the warehouses gained 1,730 tons to 58,003 tons, the data showed.

Natural-rubber inventories increased 2,240 tons to 18,783 tons, based on a survey of 10 warehouses in Shanghai, Shandong, Yunnan, Hainan and Tianjin, the bourse said in the weekly report.