Shanghai bonded copper stocks added 2,800 mt on week

SHANGHAI, Nov 20 (SMM) — Stocks of copper in Shanghai bonded areas increased for the sixteenth consecutive week.

SMM data showed that the stocks expanded 2,800 mt from the prior week to 369,700 mt as of Friday November 20.

When the import loss is closed for a long time, domestic buyers are unwilling to import, leading to limited arrivals of imported copper. It is expected that the inflow of imported copper from bonded warehouses will increase next week due to the improvement of import loss and high domestic premium this week.