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Home / Metal News / Shanghai bonded copper stocks rose for 3rd week

Shanghai bonded copper stocks rose for 3rd week

Jun 12, 2020 15:43

Source:SMM

Stocks of copper in Shanghai bonded areas rose for a third straight week this week, as demand for imports weakened in a closed import arbitrage window.

SHANGHAI, Jun 12 (SMM) – Stocks of copper in Shanghai bonded areas rose for a third straight week this week, as demand for imports weakened in a closed import arbitrage window.

SMM data showed that the stocks increased 3,200 mt in the week ended June 12 to 216,200 mt, following a 1,000 mt rise in the prior week.

Spot copper premiums in China’s domestic market eased as consumption weakened, in part due to the switches to scrap on the back of deeper scrap discounts against cathode.

Inventory data

Copper

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Shanghai base metals mostly cruised higher on Friday morning amid dovish comments from European Central Bank. Meanwhile, their counterparts on the LME traded mixed.

Jul 23, 2021 10:00

SMM Comments

SMM Morning Comments (Jul 23): Shanghai base metals were mostly higher on dovish ECB comments

SMM Evening Comments (Jul 20): Shanghai nonferrous metals declined for the most part following China keeping benchmark lending rate unchanged

SHFE nonferrous metals broadly fell on Tuesday July 20. On Tuesday, China kept unchanged its benchmark lending rate for corporate and household loans — the one-year Loan Prime Rate (LPR) held steady at 3.85% while the five-year LPR was also left at 4.65%.

Jul 20, 2021 18:00

SMM Comments

SMM Evening Comments (Jul 20): Shanghai nonferrous metals declined for the most part following China keeping benchmark lending rate unchanged

SMM Evening Comments (Jul 16): Shanghai nonferrous metals rose across the board amid wider power curtailment

SHFE nonferrous metals all went up today as China’s power curtailment expanded to many regions, and US expectation of interest rate hikes intensified.

Jul 16, 2021 18:37

SMM Comments

SMM Evening Comments (Jul 16): Shanghai nonferrous metals rose across the board amid wider power curtailment

SMM Evening Comments (Jul 9): Shanghai nonferrous metals closed mixed, lead fell 0.79

SHFE nonferrous metals, except for copper and lead, all went up today, amid the shrinking increase in China’s CPI and PPI. Nickel rose 2.61% to lead the gains, aluminium increased 0.32%, zinc went up 0.58%, and tin advanced 1.38%, while copper fell 0.14% and lead shed 0.79%.

Jul 9, 2021 18:45

SMM Comments

SMM Evening Comments (Jul 9): Shanghai nonferrous metals closed mixed, lead fell 0.79

SMM Evening Comments (Jul 5): Shanghai nonferrous metals rose across the board, aluminium advanced 2.97%

SHFE nonferrous metals broadly closed higher across the board on Monday July 5.

Jul 5, 2021 18:00

SMM Comments

SMM Evening Comments (Jul 5): Shanghai nonferrous metals rose across the board, aluminium advanced 2.97%

SMM Evening Comments (Jul 2): Shanghai nonferrous metals fell for the most part, aluminium gained 1.34%

Shanghai nonferrous metals, except for aluminium, fell across the board amid high PMI and US nonfarm payrolls data.

Jul 2, 2021 19:12

SMM Comments

SMM Evening Comments (Jul 2): Shanghai nonferrous metals fell for the most part, aluminium gained 1.34%

SMM Evening Comments (Jun 16): Base metals rallied on Fed’s additional support

SHFE nonferrous metals closed higher across the board on Tuesday, recovering from Monday’s collapse, as the return of monetary and fiscal stimulus into the spotlight calmed investor nerves over a spike in coronavirus cases.

Jun 16, 2020 18:26

SMM Comments

SMM Evening Comments (Jun 16): Base metals rallied on Fed’s additional support

SMM Morning Comments (Jun 16): Shanghai base metals recovered on Tuesday morning, aluminium added over 1%

SHFE nonferrous metals traded mostly higher on the morning of Tuesday June 16, recovering losses from overnight amid continued concerns about a second wave of the coronavirus pandemic. Aluminium climbed as much as 1.54% in early trades this morning. Nickel climbed about 1.5% and copper edged higher.

Jun 16, 2020 10:17

SMM Comments

SMM Morning Comments (Jun 16): Shanghai base metals recovered on Tuesday morning, aluminium added over 1%

SMM Morning Comments (Jun 8): Shanghai base metals opened Monday higher after surprise US jobs data

SHFE nonferrous metals, except for lead and zinc, traded higher on Monday June 8, following after they ended mixed last Friday night, as investors risk appetite grew after Friday’s US jobs report bolstered hope of a quick economic rebound.

Jun 8, 2020 10:03

SMM Comments

SMM Morning Comments (Jun 8): Shanghai base metals opened Monday higher after surprise US jobs data

China steel rebar inventories speeded up decline on week

Inventories of steel rebar across Chinese steelmakers and social warehouses accelerated their declines this week as in-plant stocks posted faster drops on the backdrop of traders stockpiling. Traders stepped up purchases from steel mills after depleting their stockpiles over the past two weeks. Continuous rally in raw materials prices lifted market prospects for steel prices and this also facilitated the procurement by traders.

Jun 5, 2020 11:18

Analysis

China steel rebar inventories speeded up decline on week

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Shanghai bonded copper stocks rose for 3rd week

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