Shanghai-bonded Cu stocks drop in May on profitable arbitrage; Zn inventories rise for seventh straight month

Copper stocks in Shanghai-bonded warehouses fell in May from the prior month after it became profitable to import the red metal into China amid a brief opening of the London-Shanghai import arbitrage window.

Aluminium and nickel stocks in the bonded zone fell last month while zinc inventories recorded their seventh consecutive monthly increase owing to a closed arbitrage window and lackluster demand in China.
Copper stocks drop 5.9% month on month on favorable arb Zinc inventories rise for seventh month in a row Nickel stocks decline after import window opens Aluminium inventories dip amid “regular fluctuations” Cu stocks decline on favorable import arbitrage
Copper stocks in the Shanghai-bonded zone were down in May compared with April amid a more favorable arbitrage on bringing the metal from the bonded zone into China. 

Fastmarkets MB assessed Shanghai-bonded copper stocks at 537,000-543,000 tonnes on Monday June 3, marking a decrease of 33,000-35,000 tonnes, or 5.9%, from the 572,000-576,000 tonnes recorded on May 6.

Copper stocks in the bonded zone have maintained relatively high levels throughout April and May after reaching...

Published

Ellie Wang

Anna Xu

Violet Li

Hui Li

June 03, 2019

15:00 GMT

Shanghai