Shanghai Bonded Copper Stocks Fell 17,500 mt on Week

SHANGHAI, Aug 6 (SMM) — SMM data showed that the stocks of copper in Shanghai bonded areas fell 17,500 mt from last Friday July 30 to 392,100 mt as of August 6, falling for four consecutive weeks.

Profits of imported spots have created demand from foreign trade market, and the buyers were actively seeking warehouse warrants and recent B/L arrived at ports. Premiums of Yangshan copper climbed greatly, and increased clearance at customs has resulted in continuous de-stocking in the bonded areas.