Shanghai bonded copper stocks added 5,700 mt on week

SHANGHAI, Sep 25 (SMM) — Stocks of copper in Shanghai bonded areas increased for the eighth consecutive week, as domestic arrivals remained stable and overseas arrivals increased.

SMM data showed that the stocks expanded 5,700 mt from the prior week to 282,200 mt as of Friday September 25.

Terms of trade maintained a large loss with the sluggish demand before the holiday. Yangshan copper premium declined faster, hitting a new low in the year. The traders shipped their cargoes to bonded warehouses. SMM learned that some copper cathode has been shipped recently. This also accounted for the continuous increase of bonded inventories.