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Home / Metal News / Shanghai bonded copper stocks added 21,000 mt on week

Shanghai bonded copper stocks added 21,000 mt on week

Oct 16, 2020 16:12

Source:SMM

Stocks of copper in Shanghai bonded areas increased for the eleventh consecutive week.

SHANGHAI, Oct 16 (SMM) — Stocks of copper in Shanghai bonded areas increased for the eleventh consecutive week.

SMM data showed that the stocks expanded 21,000 mt from the prior week to 330,000 mt as of Friday October 16.

This week, the import arbitrage window remained closed with the sluggish demand for export. The traders shipped their cargoes to bonded warehouses after production has resumed. This also accounted for the sharp increase of bonded inventories.

Copper

Inventory data

Shanghai bonded area

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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 19): Shanghai nonferrous metals ended mixed as investors monitored virus and digested OPEC deal

SHFE nonferrous metals closed mixed on Monday July 19 as markets digested the latest OPEC + announcement regarding oil production, and continued to brood on inflation and rising Covid-19 cases.

Jul 19, 2021 18:00

SMM Comments

SMM Evening Comments (Jul 19): Shanghai nonferrous metals ended mixed as investors monitored virus and digested OPEC deal

NDRC: To further release copper, aluminium, and zinc reserves, strictly penalise price bidding

NDRC will continue to follow the deployment of the executive meeting of the State Council, work with relevant departments to strengthen the monitoring and forecast of commodity prices, organise subsequent release of copper, aluminium, zinc and other national reserves, and pay close attention to abnormal market price fluctuations.

Jul 19, 2021 16:36

Industry

NDRC: To further release copper, aluminium, and zinc reserves, strictly penalise price bidding

Shanghai bonded copper stocks fell 4,300 mt on week

SMM data showed that the stocks fell 4,300 mt from the prior week to 435,500 mt as of Friday July 16.

Jul 16, 2021 13:24

Analysis

Shanghai bonded copper stocks fell 4,300 mt on week

SMM Morning Comments (Jul 16): Shanghai base metals rose across the board as jobless claims data helped

Shanghai base metals all cruised higher on Friday morning after the head of the Federal Reserve told Congress he saw no need to rush the shift towards tighter post-pandemic monetary policy. Meanwhile, their counterparts on the LME mostly cruised lower.

Jul 16, 2021 10:00

SMM Comments

SMM Morning Comments (Jul 16): Shanghai base metals rose across the board as jobless claims data helped

SMM Morning Comments (Jul 15): Shanghai base metals were mixed as traders digested inflation data, Fed comments

Shanghai base metals traded mixed on Thursday morning as traders reacted to hotter-than-expected US and UK inflation figures and comments from Fed Chairman Jerome Powell. Meanwhile, their counterparts on the LME fell for the most part.

Jul 15, 2021 10:00

SMM Comments

SMM Morning Comments (Jul 15): Shanghai base metals were mixed as traders digested inflation data, Fed comments

SMM Morning Comments (Jul 12): Shanghai base metals rose across the board as investors watched regional Covid situation

Shanghai base metals advanced across the board on Monday morning as investors continued to monitor the Covid situation regionally. Meanwhile, their counterparts on the LME also rose for the most part.

Jul 12, 2021 10:00

SMM Comments

SMM Morning Comments (Jul 12): Shanghai base metals rose across the board as investors watched regional Covid situation

SMM Morning Comments (Jul 5): Shanghai base metals rose across the board as US jobs report beat expectations

Shanghai base metals were mostly higher on Monday morning as investors digested a better-than-expected US jobs report. Meanwhile, their counterparts on the LME fell for the most part.

Jul 5, 2021 10:00

SMM Comments

SMM Morning Comments (Jul 5): Shanghai base metals rose across the board as US jobs report beat expectations

SMM Morning Comments (Jun 30): Shanghai base metals rose across the board as global investors looked to US jobs data

Shanghai base metals were mostly higher on Wednesday morning as global investors monitored the spread of the delta Covid-19 variant and awaited key economic data out of the US. Meanwhile, their counterparts on the LME also rose for the most part.

Jun 30, 2021 10:00

SMM Comments

SMM Morning Comments (Jun 30): Shanghai base metals rose across the board as global investors looked to US jobs data

SMM Morning Comments (Jun 29): Shanghai base metals were mixed as investors monitored rising Covid-19 cases around the globe

Shanghai base metals mostly cruised lower on Tuesday morning despite gains overnight on Wall Street that saw the S&P 500 and Nasdaq Composite touching fresh record closing highs. Meanwhile, their counterparts on the LME traded mixed.

Jun 29, 2021 10:00

SMM Comments

SMM Morning Comments (Jun 29): Shanghai base metals were mixed as investors monitored rising Covid-19 cases around the globe

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Shanghai bonded copper stocks added 21,000 mt on week

SMM Events & Webinars

NET ZERO EUROPE - Solar & Energy Storage Summit

2nd Li-ion Battery Europe 2024

2024 Global Renewable Metal Industry Chain Summit