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 a June 2017...

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Ellie Wang

Anna Xu

Violet Li

Hui Li

June 03, 2019

15:00 GMT

Shanghai