Copper Stockpiles in Shanghai Drop to a Seven-Month Low

Copper stockpiles monitored by the Shanghai Futures Exchange declined to a more than seven-month low, while zinc inventories climbed to a record, data from the bourse showed today.

Copper inventories fell 15 percent from a week earlier, dropping 15,357 metric tons to 90,108 tons, according to a survey of 10 warehouses in Shanghai. That’s the lowest level since September, according to Bloomberg data. Holdings in two bonded warehouses lost 3,385 tons to 30,609 tons, the bourse said on its website.

Zinc inventories rose 1,746 tons to 397,347 tons, based on a survey of 15 warehouses in Shanghai, Guangdong and Zhejiang, the exchange said. Lead stockpiles declined 1,264 tons to 31,741 tons, data show.

Aluminum stockpiles dropped for a tenth week, shrinking 8,523 tons to 356,646 tons, the lowest since February 2010, according to a survey of 20 warehouses in Shanghai, Guangdong, Jiangsu and Zhejiang provinces.

Natural-rubber inventories fell 215 tons to 13,946 tons, based on a survey of 10 warehouses in Shanghai, Shandong, Yunnan, Hainan and Tianjin, the bourse said in the weekly report.

Source: http://www.bloomberg.com/news/2011-05-20/copper-stockpiles-in-shanghai-drop-to-a-seven-month-low-1-.html