Copper Stockpiles in Shanghai Fall From Highest in Five Years

SHANGHAI, Sept. 28 -- Shanghai copper stockpiles declined 5.6 percent this week, falling from the highest since April 2004, the Shanghai Futures Exchange said in a report on its Web site.

    Inventories of the metal, based on a survey of five warehouses monitored by the exchange, fell 5,559 metric tons to 98,689 tons this week, according to the report today.

    Stockpiles of aluminum rose 761 tons to 229,788 tons, based on a survey of 11 warehouses in Shanghai, Guangdong, Wuxi and Hangzhou, the exchange said.

    Zinc stockpiles fell 2,524 tons to 111,924 tons, based on a survey of seven warehouses in Shanghai, Guangdong and Hangzhou.

    Rubber inventories expanded 6,584 tons to 98,253 tons, based on a survey of 10 warehouses in Shanghai, Shandong, Yunnan, Hainan and Tianjin, the exchange said.

    (Source: Bloomberg)