Copper Inventories in Major Trading Markets up 5,700 mt over Weekend

SHANGHAI, Aug 2 (SMM) – Copper social inventories in major trading markets in China up 5,700 mt to 155900 mt from last Friday July 30. Shanghai inventories added 400 mt to 77600 mt; Guangdong increased 5600 mt to 67200 mt; Chongqing climbed up 600 mt to 1300 mt; Chengdu edged down 100 mt to 800 mt; Jiangsu, Zhejiang, Jiangxi and Tianjin were basically flat from last Friday. Copper inventories across the country slightly increased over the weekend, the first time since May 21. Copper imports were the major reason for inventory increase. Follow-up focus shall be the continued inflow of copper imports. If so, social inventories may experience re-stocking.