Shanghai bonded copper stocks added 17,800 mt on week

SHANGHAI, Sep 30 (SMM) — Stocks of copper in Shanghai bonded areas increased for the ninth consecutive week.

SMM data showed that the stocks rose 17,800 mt from last Friday to 300,000 mt as of Wednesday September 30.

Terms of trade gained a slight increase with the sluggish demand for export before the National Day/Mid-Autumn Festival holidays, but this could not give support to the import demand for customs declaration. The traders have shipped their cargoes to bonded warehouses. This also accounted for the continuous increase of bonded inventories.