Shanghai bonded copper stocks fell 300 mt on week

SHANGHAI, Apr 9(SMM) — Stocks of copper in Shanghai bonded areas decreased on smaller arrivals.

SMM data showed that the stocks fell 300 mt from the prior week to 385,300 mt as of Friday April 9.

Copper stocks declined slightly for the first time after rising for seven consecutive weeks, which was mainly due to the relative decrease in the inbound quantity. The import window closed for a long time, and Yangshan copper premium went down all the way. Some traders chose to move the goods arriving at port in the near term into bonded warehouses. It is expected that stocks in the bonded area will maintain the upward trend in the following weeks.