Fall in Shanghai bonded copper stocks accelerates on urgent financing needs

Copper inventories at Shanghai bonded warehouses fell at an accelerated pace during the first two weeks of June due to stronger financing demand amid a tight credit environment as the half-year period nears.

Metal Bulletin assessed Shanghai bonded copper stocks at 545,000-555,000 tonnes on Monday June 19, down 50,000 tonnes from 595,000-605,000 tonnes in early June. Reduced stocks are believed to have been imported into China although the Shanghai-London arbitrage window stayed closed during the past two weeks. Metal Bulletin calculates imports losses of $50-100 per tonne during the first two weeks of June....

Published

Kiki Kang

June 19, 2017

15:36 GMT

Shanghai