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Shanghai Bonded Copper Stocks Fell 19,000 mt on Week
Stocks of copper in Shanghai bonded areas decreased on increased de-stocking.
SHANGHAI, Jul 30 (SMM) — Stocks of copper in Shanghai bonded areas decreased on increased de-stocking.
SMM data showed that the stocks fell 19,000 mt from the previous week to 409,600 mt as of Friday July 30.
Copper stocks fell for three consecutive weeks, with increased de-stocking from the previous week. Domestic consumption was comparatively strong, and de-stocking continued. High premiums of domestic trade benefited imports, and ordered executed last week amid positive import profits finished customs clearance this week, leading to further decreases in stocks in the bonded area.
copper stocks
Shanghai bonded areas
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