Shanghai aluminum stockpiles gain first time in 7 months

Bloomberg reported that copper stockpiles monitored by the Shanghai Futures Exchange gained after a week long holiday while aluminum inventories jumped 51% increasing for the first time in 7 months.

According to a survey of 10 warehouses in Shanghai, copper inventories increased 1,750 tonnes to 99,661 tonnes. Of the total those stored at bonded warehouses added 54 tonnes to 13,472 tonnes.

According to a survey of 20 warehouses in Shanghai, Guangdong, Jiangsu and Zhejiang provinces, aluminum inventories surged 39,754 tonnes to 117,132 tonnes after sinking to 4 year low.

Zinc stockpiles fell 6,252 tonnes to 395,021 tonnes based on a survey of 15 warehouses in Shanghai, Guangdong and Zhejiang while lead stored in the warehouses declined 1,513 tonnes to 62,939 tonnes.

The bourse said that natural rubber inventories dropped 3,485 tonnes to 28,331 tonnes based on a survey of 10 warehouses in Shanghai, Shandong, Yunnan, Hainan and Tianjin.