Copper Inventories in Shanghai Expand to Biggest in Five Years
Nov. 6 (Bloomberg) -- Shanghai copper stockpiles climbed
for a second week to the highest in more than five years, the
Shanghai Futures Exchange said in a report on its Web site.
Inventories of the metal expanded 1,440 metric tons, or 1.4
percent, to 104,275 tons this week, based on a survey of five
warehouses monitored by the exchange. This is the highest level
since April 2004.
Stockpiles of aluminum increased for a fourth week, by
10,983 tons to 272,618 tons, the highest since at least 2003,
based on a survey of 11 warehouses in Shanghai, Guangdong, Wuxi
and Hangzhou, the exchange said.
Zinc stockpiles expanded for a second week, by 8,311 tons
to 153,847 tons, based on a survey of seven warehouses in
Shanghai, Guangdong and Hangzhou, according to the report today.
This is the highest level since the exchange started trading
zinc futures in April 2007.
Rubber inventories increased 3,784 tons to 120,697 tons,
based on a survey of 10 warehouses in Shanghai, Shandong,
Yunnan, Hainan and Tianjin, the exchange said.
To contact the reporter on this story:
Glenys Sim in Singapore at
Gsim4@bloomberg.net
Last Updated: November 6, 2009 03:13 EST