Stockpiles DeclineCopper stockpiles tracked by the Shanghai...

Stockpiles Decline

Copper stockpiles tracked by the Shanghai exchange slid to 13,554 tons, the bourse said today, the lowest since at least when records began in January 2003 and taking this year's decline to 47 percent. Including those at the LME and the Comex division of the New York Mercantile Exchange, they totaled 221,519 tons, or 4.3 days of global consumption, according to Bloomberg calculations. Last year's average was 4.9 days.


I have a research note from GSJBW, that talks about the Cu market at the moment. Anyway...in it it has a graphic that shows the price action and chinese inventories at their, stocking/de-stocking cycles. Always very explosive when the stockpiles are getting built. It's not an electronic report unfortunately otherwise I would include the graphic.

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