Shanghai bonded copper stocks rose 4,200 mt on week

SHANGHAI, Mar 26 (SMM) — Stocks of copper in Shanghai bonded areas increased on larger arrivals for the sixth consecutive week.

SMM data showed that the stocks rose 4,200 mt from the prior week to 382,000 mt as of Friday March 26.

The recovery of domestic consumption was not as expected and social inventories didn’t see an inflection point. The import window still closed on week, and the import loss remained above 400 yuan/mt, which led to a low demand for customs declaration. The inbound goods flowed into bonded warehouses one after another, which lifted up inventories in the bonded area this week.