Base metal stocks on the Shanghai Futures Exchange were mostly lower week on week on Friday December 7, with copper stocks now 60% lower than the annual peak in March.
Deliverable copper stocks at SHFE-approved warehouses dropped by 5% week on week, or 7,163 tonnes, to 123,879 tonnes as on Friday December 7. SHFE copper stocks have fallen by 60% from the 2018 high of 307,435 tonnes reached on March 23, but are still 12% higher than the annual low of 111,029 tonnes from September 21. This week, Huangpu warehouse in Guangdong province recorded the highest...