SHANGHAI, Jul 9 (SMM) — Stocks of copper in Shanghai bonded areas increased on larger arrivals for the fifth consecutive week.
SMM data showed that the stocks rose 4,200 mt from the prior week to 439,800 mt as of Friday July 9.
The repair range of terms of trade was limited this week, and the import loss of the current month's contract remained at about 300 yuan/mt, which made it difficult to provide import opportunities. The market demand for customs declaration was sluggish, and the buying activity in foreign trade market was limited. The inbound goods flowed into bonded warehouses one after another, which led to a continuous increase in copper stocks.