SHFE STOCKS REPORT 12/09: Copper inventories fall 6% ahead of peak consumption season

All base metal stocks at Shanghai Futures Exchange-approved warehouses, barring tin, fell in the week to Thursday September 12 as a result of a pick-up in activity at the start of the traditionally busy season of September and October for the non-ferrous metals sector.

Copper registered the largest drop in percentage terms, tumbling by 6.1% or 9,871 tonnes to 152,188 tonnes as of Thursday.

The largest outflow in copper inventories was registered at Zhongchu Wusong warehouse in Shanghai, which delivered out 7,079 tonnes or 23.3% of stocks from last Friday’s levels. This left 23,297 tonnes of material in the warehouse, according to SHFE’s latest inventory report.

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Ellie Wang

September 12, 2019

12:35 GMT