Shanghai bonded copper stocks rose 10,300 mt on week

SHANGHAI, Jun 18 (SMM) — Stocks of copper in Shanghai bonded areas increased on larger arrivals for the second consecutive week.

SMM data showed that the stocks rose 10,300 mt from the prior week to 429,300 mt as of Friday June 18.

Terms of trade has not been opened up to now. The import losses in the week mostly stood at 600 yuan/mt with sluggish demand for customs declaration. The buying in foreign trade market was very limited, and the inbound goods flowed into the bonded warehouse one after another, which accounted for the continuous increase in stocks.