Shanghai bonded copper stocks added 14,500 mt on week

Published: Oct 30, 2020 14:10

Save

Stocks of copper in Shanghai bonded areas increased for the thirteenth consecutive week, as overseas arrivals increased.

SHANGHAI, Oct 30 (SMM) — Stocks of copper in Shanghai bonded areas increased for the thirteenth consecutive week, as overseas arrivals increased.

SMM data showed that the stocks expanded 14,500 mt from the prior week to 360,500 mt as of Friday October 30.

The import loss remained around 300-400 yuan/mt with no import chance and sluggish demand for customs declaration. Few transactions have been made in the overseas trade market. The traders shipped their cargoes to bonded warehouses. This also accounted for the continuous increase of bonded inventories.

Copper Inventory data Shanghai bonded area

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

Price spread between futures contracts once exceeded 800 yuan; downstream purchases were quiet, and spot premiums fell sharply [SMM South China spot copper]

1 hour ago

2 hours ago

Wider price spread between futures contracts drags down purchases; spot discounts in North China expand [SMM North China spot copper]

In North China today, spot #1 copper cathode against the front-month contract was quoted at a discount of 200-120 yuan/mt, with an average discount of 160 yuan/mt, down 70 yuan/mt from the previous trading day. The average transaction price was 108,745 yuan/mt, down 3,155 yuan/mt from the previous trading day.

2 hours ago

【Flash | Peru’s June Molybdenum Output Rises 5.4% YoY, H1 Total Falls 4.5%】

Peru’s Ministry of Energy and Mines (MINEM) reported molybdenum production of 3,029 tonnes in June 2026, up 6.5% MoM and 5.4% YoY. H1 output totaled 18,777 tonnes, down 4.5% YoY. Sociedad Minera Cerro Verde produced 943 tonnes in June, up 76.1%, while Anglo American Quellaveco produced 479 tonnes, up 25.6%. Southern Peru Copper Corporation’s output declined 16.0% to 1,065 tonnes. Gains at Cerro Verde and Quellaveco supported the monthly rebound, although cumulative supply remained below last year.

2 hours ago