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Shanghai bonded copper stocks rose 6,800 mt on week

iconJun 11, 2021 15:46
Source:SMM
SMM data showed that the stocks rose 6,800 mt from the prior week to 419,000 mt as of Friday June 11.

SHANGHAI, Jun 11 (SMM) — Stocks of copper in Shanghai bonded areas increased on larger arrivals.

SMM data showed that the stocks rose 6,800 mt from the prior week to 419,000 mt as of Friday June 11.

Terms of trade has not been opened up to now. The spot import losses in the week mostly stood at around 500 yuan/mt, which was difficult to stimulate the import demand for customs declaration. The market trading was extremely weak due to the holiday. Some traders took unsold inbound goods into bonded warehouses, so stocks of bonded areas showed a month-on-month increase. The long-term closure of terms of trade also reduced the pressure on the supply of domestic imported goods, which was conducive to the further decreasing of domestic social stocks.

Copper
Inventory data
Shanghai bonded area
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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