Jan 10– Copper stocks across Shanghai bonded areas rose this week for a fourth consecutive week, increasing 17,200 mt from a week ago to 265,000 mt as of January 10, showed SMM data.

The bonded copper stocks edged higher since November. Subdued demand from the overseas market since October weighed premiums of seaborne copper to low levels by end December. This drove traders to move cargoes to warehouses and slowed the destocking in the spot market, triggering a significant increase in the bonded copper stocks this week.

Shipments from the bonded warehouses shrank this week on the back of import losses and holiday lull.