Shanghai bonded copper stocks rose 3,600 mt on week

SHANGHAI, Apr 2 (SMM) — Stocks of copper in Shanghai bonded areas increased on larger arrivals for the seventh consecutive week.

SMM data showed that the stocks rose 3,600 mt from the prior week to 385,600 mt as of Friday April 2.

Spot import loss remained at about 500 yuan/mt with low demand for customs declaration. There was limited purchase in the foreign trade market. The inbound goods flowed into bonded warehouses one after another, which lifted up inventories in the bonded area this week.