MYMETAL: China copper stocks decline further, prices up
Oct 27, 2020 17:30
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Copper stocks in China’s spot market declined further last week, while prices moved up amid steady demand throughout the month of October, according to Mymetal’s weekly report. But the climb in prices caused some market concerns as well, the report found.
The stocks of refined copper in Shanghai Futures Exchange warehouses and those in nine key cities across China continued declining last week, evidence of the sustainability of downstream demand, Mymetal’s survey showed. The total was lower by 11,800 tonnes or 4.2% on week at 269,000 tonnes, as of October 23.