SHANGHAI, Feb 7 (SMM) – Copper stocks across Shanghai bonded area stood at 299,500 mt as of Friday February 7, up 7,000 mt from January 23, the last trading day before the Chinese New Year holiday, showed SMM data.
The epidemic outbreak has shut most of the warehouses, and customs clearance and deliveries to warehouses are halted, leaving cargoes stranded at ports.
Bonded copper inventories are likely to see a larger increase after the operations resume.
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