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.
The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.
For news cooperation, please contact us by email: email@example.com or firstname.lastname@example.org.