SHFE STOCKS REPORT 07/12: Copper inventory drops 5% after higher domestic yuan premium encourages deliveries out

摘要

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.