All base metal stocks at Shanghai Futures Exchange-approved warehouses, barring tin, fell in the week to Thursday September 12 as a result of a pick-up in activity at the start of the traditionally busy season of September and October for the non-ferrous metals sector.
Copper registered the largest drop in percentage terms, tumbling by 6.1% or 9,871 tonnes to 152,188 tonnes as of Thursday. The largest outflow in copper inventories was registered at Zhongchu Wusong warehouse in Shanghai, which delivered out 7,079 tonnes or 23.3% of stocks from last Friday's levels. This left 23,297 tonnes of material in the warehouse, according to SHFE's latest inventory report. Shanghai copper traders are optimistic for the third quarter because...