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Copper Stockpiles in Shanghai Drop Most in Two Months

(Corrects month in fifth paragraph in story from Aug. 10.)

Aug. 10 (Bloomberg) -- Copper inventories monitored by the Shanghai Futures Exchange dropped by the most in two months, while those of zinc declined for a seventh week, data from the bourse showed today.

Stockpiles of copper fell 6,059 metric tons, or 3.7 percent, to 158,052 tons this week, according to a survey of 10 warehouses in Shanghai, the exchange said on its website.

Zinc stockpiles dropped for a seventh week, losing 1,371 tons to 306,567 tons, based on a survey of 15 warehouses in Shanghai, Guangdong and Zhejiang. That’s the lowest since December 2010. Lead inventories rebounded from the lowest level since April 2011, adding 377 tons to 19,791 tons.

Aluminum inventories rose 2,399 tons to 341,374 tons, the highest level since May, according to a survey of 20 warehouses in Shanghai, Guangdong, Jiangsu and Zhejiang provinces.

Natural-rubber inventories rose 4,176 tons to 23,316 tons, the highest since March, based on a survey of nine warehouses in Shanghai, Shandong, Yunnan, Hainan and Tianjin, the bourse said.

To contact Bloomberg News staff for this story: Helen Sun in Shanghai at hsun30@bloomberg.net

To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net

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