SHANGHAI, Feb 26 (SMM) — Stocks of copper in Shanghai bonded areas increased on larger arrivals.
SMM data showed that the stocks rose 13,300 mt from the prior week to 358,600 mt as of Friday February 26.
Arrivals increased sharply this week, and warehouses resumed operations after the holiday, with some bills of lading arriving in warehouses one after another. Some domestic copper was exported to the bonded area. However, the import demand for customs declaration weakened week on week due to the impact of import loss and the decline of domestic trade premium and discount, which led to the increase of inventories in the bonded area this week.
