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Shanghai bonded copper stocks rose 6,400 mt on week

iconMar 12, 2021 14:43
Source:SMM
SMM data showed that the stocks rose 6,400 mt from the prior week to 371,900 mt as of Friday March 12.

SHANGHAI, Mar 12 (SMM) — Stocks of copper in Shanghai bonded areas increased on larger arrivals for the fourth consecutive week.
 
SMM data showed that the stocks rose 6,400 mt from the prior week to 371,900 mt as of Friday March 12.
 
Domestic consumption has not yet fully recovered, and the large price difference between refined copper and copper scrap had a negative impact on refined copper consumption. Stocks of domestic refined copper continued to pile up slightly. The import window still closed on week, the buyers lacked import willingness, and the amount of declared imported copper decreased month on month, which led to the continuous upward trend of inventories in the bonded area this week.


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 exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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