Commodity News
HeadLine : Shanghai copper, zinc stockpiles at 11-month high amid virus scare
Date : Feb 17 2020
Copper and zinc inventories in warehouses tracked by the Shanghai Futures Exchange (ShFE) CU-STX-SGH climbed to their highest in 11 months, as a virus outbreak in top metals consumer China sapped demand. Copper stockpiles jumped 27.4% to 262,738 tonnes, their highest since the week ended March 15, 2019, while zinc inventories ZN-STX-SGH surged 24.4% to 121,804 tonnes, also the highest in 11 months, ShFE weekly data released on Friday showed. Lead inventories in the warehouses PB-STX-SGH climbed 34.5% on-week to 37,092 tonnes, a five-week high, according to the data. China’s coronavirus outbreak showed no sign of peaking with health authorities reporting more than 5,000 new cases and 121 new deaths in their latest update, taking the accumulated total infected to 63,851 people.

Source: Reuters

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