Copper stocks on the Shanghai Futures Exchange have decreased by 12% as of Thursday June 6, attributed to a pick-up in demand during the traditional consumption season.
Deliverable copper stocks at SHFE-approved warehouses have fallen by 19,813 tonnes since the last SHFE stock release on Friday May 31 to 145,626 tonnes as of June 6. The SHFE released its weekly stocks report on Thursday this week due to a public holiday on Friday to celebrate the Dragon Boat Festival. Copper stocks have been on a persistent downtrend since late March when stocks were as high as 261,412 tonnes on March 29. SIPG...