Shanghai Copper Stockpiles Rise; Aluminum at 3-1/2 Year Low

Sept. 2 (Bloomberg) –Copper stockpiles monitored by the Shanghai Futures Exchange rose for the first time in three weeks, and aluminum inventories fell to a three-and-a-half year low.

Copper inventories gained 5,532 metric tons to 107,790 tons, according to a survey of 10 warehouses in Shanghai, the bourse reported on its website today. Stockpiles at bonded warehouses gained 1,151 tons to 17,604 tons.

Aluminum inventories declined for a 25th week, falling 7,009 tons to 117,799 tons, the lowest level since February 2008, according to a survey of 20 warehouses in Shanghai, Guangdong, Jiangsu and Zhejiang provinces.

Zinc stockpiles dropped 2,339 tons to 415,445 tons, based on a survey of 15 warehouses in Shanghai, Guangdong and Zhejiang, while lead stored in the warehouses rose 3,279 tons to 64,647 tons, the data showed.

Natural-rubber inventories increased for a seventh week, adding 3,550 tons to 29,818 tons, based on a survey of 10 warehouses in Shanghai, Shandong, Yunnan, Hainan and Tianjin, the bourse said in the weekly report.