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UPDATE 1-Shanghai copper stocks rise to 5-½ yr high

Fri Nov 6, 2009 3:07pm IST
 
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* ShFE copper stocksup 1 pct, less than half expectations

* Zinc stocks rise 5.7 percent to new one-year high

* For graphics of global exchange metal stocks, click:

* here

* here

* here (Recasts, updates with stocks, adds quotes)

SINGAPORE, Nov 6 (Reuters) - Shanghai Futures Exchange copper stocks rose 1,440 tonnes this week to 104,275 tonnes, less than half the 3,000-4,000 tonnes expected by analysts and traders, while zinc inventories jumped 5.7 percent after last week's 24 percent surge.

Copper stocks in warehouses monitored by the Shanghai Futures Exchange rose 1 percent from a week earlier to 104,275 tonnes, highest since late April, 2004.

A straw-poll earlier on Friday revealed expectations of a rise of 3,000 tonnes to as much as 10,000 but the bulk of the six analysts and traders questioned looked for a rise of 3,000 to 4,000 tonnes.  Continued...

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