SHFE Copper Stockpiles Tumble to Lowest Level Since SeptemberSungwoo Park
Stockpiles of metals at warehouses monitored by the Shanghai Futures Exchange declined, with copper falling to the lowest level in almost eight months, data from the bourse showed today.
Refined-copper inventories fell 13,706 metric tons to 176,624 tons this week, the lowest level since the week ended September 27, data from 15 warehouses in Shanghai, Zhejiang and Jiangsu provinces showed. Stockpiles have tumbled for eight straight weeks.
Aluminum stockpiles dropped for a fifth week, losing 13,369 tons to 442,282 tons, the lowest since February, according to a survey based on 20 warehouses.
Zinc inventories declined 3,453 tons to 293,201 tons, the lowest since December 2010, while lead stockpiles decreased by 2,259 tons to a three-month low of 122,519 tons, according to data posted on the exchange’s website.
Natural-rubber inventories dropped for a second week by 930 tons to 120,160 tons, based on a survey of nine warehouses in Shanghai, Shandong, Yunnan, Hainan and Tianjin, according to the exchange.