Shanghai bonded warehouse adds 50,000-80,000 tons refined copper

July 7, Hong Kong: A sources claimed Tuesday, the stock of refined copper in a bonded warehouse in Shanghai has increased 50,000-80,000 tons in the past two weeks, resulting from the record high import has meet the low domestic demand.

In bonded warehouse, there are more than 100,000 tons of refined copper, accounting for one-third of the record imports amounts in May. Because the premium of shanghai copper has fallen sharply compared with the world market price, so the importers are unwilling to import the metals

If domestic prices are still lower than the cost of imports, some stock in bonded warehouse may be sent to the LME warehouses in Asia.

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