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