Shanghai-bonded copper stocks extend declines

Published: May 17, 2019 15:31

Save

Stocks fell 3,000 mt from a week ago to stand at 582,000 mt as of May 17

SHANGHAI, May 17 (SMM) – Copper stocks across Shanghai bonded areas fell 3,000 mt from a week ago to stand at 582,000 mt as of Friday May 17, SMM data showed.

Bonded copper stocks extended their declines as cargoes entered the domestic market in an open arbitrage window.

With low Yangshan premiums pointing to weak demand, imported copper that entered the domestic market was limited.

Inventory data Copper

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

7 hours ago

Falling Copper Prices Spurred Downstream Buyers to Replenish Inventories; Overall Trading This Week Was Better Than Last Week [SMM South China Spot Copper Cathode Weekly Review]

7 hours ago

8 hours ago

Most-Traded BC Copper Contract Closed Down 0.16% as Inflation Concerns and High Inventories Weighed on Prices [SMM BC Copper Commentary]

8 hours ago

Jin Chengxin Secures $166M Contract for Jiangxi Copper's Underground Development Project

Jin Chengxin announced that the company had undertaken the underground copper system development works (Section II) for the -578 m level and -678 m level of Jiangxi Copper Corporation Group Yinshan Mining Co., Ltd. The contract was a lump-sum contract, with a signing amount of approximately 166 million yuan (excluding tax). The total contract duration was 1,651 calendar days, and it was expected to run from March 5, 2026 to September 10, 2030.

8 hours ago