Copper Inventories in Shanghai Decline Most in 10 Months

Copper stockpiles in Shanghai fell by the most in 10 months to the lowest level since December, the Shanghai Futures Exchange said in a report on its website.

Inventories dropped 7.8 percent, declining for a sixth week, to 128,268 tons, based on a survey of 10 warehouses in Shanghai, the exchange said today. That’s the lowest level since the week to Dec. 23, according to exchange data. The tonnage decline of 10,808 tons was the largest drop since the week to June 24.

Stockpiles of aluminum fell for a seventh week to the lowest level since the week to March 4, 2010. Inventories decreased by 10,103 tons to 382,966 tons, based on a survey of 20 warehouses in Shanghai, Guangdong, Jiangsu and Zhejiang, the exchange said.

Zinc stockpiles gained for a 12th week, climbing 5,003 tons to a record 394,631 tons, based on a survey of 15 warehouses in Shanghai, Guangdong and Zhejiang, the bourse said. Lead inventories increased 2,089 tons to 34,995 tons.

Natural-rubber inventories fell for a 12th week, dropping 1,775 tons to 12,942 tons, based on a survey of 10 warehouses in Shanghai, Shandong, Yunnan, Hainan and Tianjin, the exchange said.

(Source: http://www.bloomberg.com/news/2011-04-29/copper-inventories-in-shanghai-decline-most-in-10-months-1-.html)