LME Copper Stockpiles Fall to 7-Month Low after Large Withdrawals in Johor-Shanghai Metals Market

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LME Copper Stockpiles Fall to 7-Month Low after Large Withdrawals in Johor

Industry News 03:07:49PM Oct 16, 2013 Source:SMM

SHANGHAI, Oct. 16 (SMM) - Copper stockpiles in warehouses monitored by the London Metal Exchange (LME) fell to the lowest in seven months after large deliveries out of Johor and Singapore.

LME copper inventories decreased by 5,150 tonnes to 503,425 tonnes, the lowest level since early March, latest data showed.

They were down by around 17% from their peak at the start of September, with largest withdrawals made in Johor, followed by Singapore, Antwerp and New Orleans, the data showed.

A majority of the withdrawals are expected to come to China in a couple of months, according to market participants.

 

Key Words:  LME copper stockpiles 

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#1 Refined Cu
May.24
47010.0
210.0
(0.45%)
Standard-Grade Copper
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46990.0
215.0
(0.46%)
High-Grade Copper
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47030.0
210.0
(0.45%)
Guixi copper
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47040.0
210.0
(0.45%)
Low-quality copper
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46920.0
220.0
(0.47%)

LME Copper Stockpiles Fall to 7-Month Low after Large Withdrawals in Johor

Industry News 03:07:49PM Oct 16, 2013 Source:SMM

SHANGHAI, Oct. 16 (SMM) - Copper stockpiles in warehouses monitored by the London Metal Exchange (LME) fell to the lowest in seven months after large deliveries out of Johor and Singapore.

LME copper inventories decreased by 5,150 tonnes to 503,425 tonnes, the lowest level since early March, latest data showed.

They were down by around 17% from their peak at the start of September, with largest withdrawals made in Johor, followed by Singapore, Antwerp and New Orleans, the data showed.

A majority of the withdrawals are expected to come to China in a couple of months, according to market participants.

 

Key Words:  LME copper stockpiles