CHINA COPPER CONF: Arbitrage not the sole factor driving Comex copper stocks higher – ICSG

A favorable arbitrage between the London Metal Exchange and Comex is not the only reason for a jump in Comex copper stocks, Shairaz Ahmed, manager of statistical analysis at the International Copper Study Group (ICSG), said.

Comex copper stocks have risen for 16 consecutive months to their highest since 2004 at 187,472 tonnes as of October 18 from tonnes from 83,391 tonnes at the start of this year and 68,882 tonnes at this time last year – they now account for nearly one third of global exchange stocks compared with 12% a year ago. The threat of US trade tariffs has improved the arbitrage...

Published

Kiki Kang

October 19, 2017

11:39 GMT

Shanghai