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. Shanghai copper traders are optimistic for the third quarter because...

Published

Ellie Wang

September 12, 2019

12:35 GMT

Shanghai