SHANGHAI, Nov 6 (SMM) — Stocks of copper in Shanghai bonded areas increased for the fourteenth consecutive week, while the speed of increase has slowed down.
SMM data showed that the stocks expanded 6,000 mt from the prior week to 366,500 mt as of Friday November 6.
The import loss narrowed to less than 100 yuan/mt due to high domestic copper premium. Imported copper has been declared one after another, but the quantity is still relatively limited. This also accounted for the continuous increase of bonded inventories.