Shanghai bonded copper stocks rose 500 mt on week

SHANGHAI, Jun 25 (SMM) — Stocks of copper in Shanghai bonded areas increased on larger arrivals for the second consecutive week.

SMM data showed that the stocks rose 500 mt from the prior week to 429,800 mt as of Friday June 25. The growth rate narrowed significantly.

Terms of trade showed signs of improvement at the beginning of this week. The spot import loss narrowed to less than 100 yuan/mt, which stimulated the import demand for customs declaration. The buyer's demand for warehouse receipts and bills of lading arrived in recent months in the foreign trade market increased, and the Yangshan copper premium rebounded at the bottom.