Shanghai bonded copper stocks up from all-time low [CORRECTED]

Copper stocks in Shanghai bonded warehouses have increased from the all-time low recorded on June 1, following the closure of the import arbitrage window.

Fastmarkets assessed Shanghai bonded copper stocks at 217,000-227,000 tonnes on Monday June 15, up by 2.3% from 212,000-222,000 tonnes on June 1.
"The growth [in bonded stocks] makes sense because there has been no import profit since mid-May," a Shanghai-based trader said.

"Import activities ground to a halt after the import profit disappeared [and]...

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