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China's Copper Inventory Falls 17.46% WoW, Largest Drop Since March Amid Typhoon Bavi Preparation

Published: Jul 9, 2026 12:15
Source: SMM
[SMM Copper Social Inventory Flash] As of July 9, 2026, SMM copper cathode social inventory in major regions across China fell by 34,900 mt WoW from last Thursday (July 2), a decrease of 17.46%, marking the largest single-week destocking since end-March. By region, Shanghai and Jiangsu saw sharp destocking as arrivals of imported and domestic cargo remained low, while downstream enterprises picked up goods intensively ahead of the approaching Typhoon Bavi (super typhoon), the 9th typhoon of the year; spot premiums continued to strengthen. In Guangdong, inventory also pulled back, as shipments were disrupted by flooding on some roads in Guangxi and arrivals declined.
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