SHANGHAI, Sep 18 (SMM) — Stocks of copper in Shanghai bonded areas increased for the seventh consecutive week, as domestic consumption remained weak.
SMM data showed that the stocks expanded 11,500 mt from the prior week to 276,500 mt as of Friday September 18.
This week, the import arbitrage window remained closed with the sluggish demand for export. Most of the traders shipped their cargoes to bonded warehouses. This also accounted for the continuous increase of bonded inventories.