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Copper Stockpiles in Shanghai Drop for Second Week, Lead Climbs

Copper stockpiles monitored by the Shanghai Futures Exchange declined for the second week, while those of lead expanded to a record.

Inventories of refined copper lost 3,448 metric tons to 205,120 tons, data based on 14 exchange warehouses in Shanghai, Zhejiang and Jiangsu provinces showed. The reserves climbed to 209,096 tons two weeks ago, the highest level since the week ended April 20.

Lead stockpiles gained 8,282 tons to a record 107,768 tons, as zinc inventories fell 1,878 tons to 320,793 tons, according to separate surveys on 14 warehouses.

Aluminum stockpiles fell 9,235 tons to 431,232 tons, the lowest in more than three months, according to a survey of 20 warehouses in Shanghai, Guangdong, Jiangsu and Zhejiang.

Natural-rubber inventories dropped 3,323 tons to 98,007 tons, declining for the second week, based on a survey of nine warehouses in Shanghai, Shandong, Yunnan, Hainan and Tianjin, the bourse said.

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