China Copper Stockpiles Fall; Aluminum, Zinc Climb

SHANGHAI, Apr. 2 -- Copper stockpiles monitored by the Shanghai Futures Exchange fell for a second straight week, dropping 1.2 percent.

Stockpiles of the metal decreased 1,876 metric tons to 153,589 tons, based on a survey of six warehouses in Shanghai, the exchange said. They expanded to the highest level since at least 2003 two weeks ago.

Inventories of aluminum rose by 4,167 tons to 410,860 tons, based on a survey of 11 warehouses in Shanghai, Guangdong, Jiangsu and Zhejiang, the exchange said in a statement today on its Web site. That's the highest level since at least 2003, according to data compiled by Bloomberg. Holdings have risen every week since Dec. 3, excluding periods when the exchange was closed for holidays.

Zinc stockpiles grew 101 tons to 244,292 tons, based on a survey of eight warehouses in Shanghai, Guangdong and Zhejiang, the exchange said. That's the highest level since April 2007, when the contract was launched.

Natural rubber inventories dropped 11,063 tons to 63,157 tons, based on a survey of 10 warehouses in Shanghai, Shandong, Yunnan, Hainan and Tianjin, the exchange said.