SHANGHAI, Feb. 26 (SMM) - Copper inventories at SHFE warehouses leapt 35,622 to 276,904 tonnes, up 14.8% to a record high since the launch of SHFE copper futures contract in 1993, according to last Friday’s data, Baoqi Information reports.
The surge in copper stocks on the SHFE is due mainly to higher imports by traders. China’s refined copper imports soared to an all-time high of 3.68 million tonnes in 2015, up 2.5% from 2014.
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