Shanghai bonded copper stocks fell 1,800 mt on week

SHANGHAI, Apr 16 (SMM) — Stocks of copper in Shanghai bonded areas decreased for two consecutive weeks.

SMM data showed that the stocks fell 1,800 mt from the prior week to 383,500 mt as of Friday April 16.

The import window still closed this week, and the import loss range was mostly over 400 yuan/mt. The import demand for customs declaration did not significantly boost. Inventory reduction was mainly due to the reduction of inbound quantity and the weak performance of foreign trade copper market. Some goods originally sent to China were transferred to European and American countries.