Shanghai bonded copper stocks rose 900 mt on week

SHANGHAI, May 7 (SMM) — Stocks of copper in Shanghai bonded areas increased on larger arrivals.

SMM data showed that the stocks rose 900 mt from the prior week to 397,600 mt as of Friday May 7.

The import maintained a high loss state before the holiday, and the demand for customs declaration was sluggish. The inflow of overseas inbound goods and domestic smelter exports into bonded warehouses lifted up the inventories, while the increase was limited, which was mainly affected by the efficiency of warehouse operation during the holiday. After the warehouse fully recovers, it is expected that copper stocks in the bonded area will continue to increase.