Glencore Buys Russian Copper on LME for China Delivery, Driving Down Inventories

Published: May 28, 2025 10:21

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Glencore has been buying Russian copper on the LME and plans to deliver it into China.In the past three trading sessions there have been requests for delivery of about 15,000 tons of copper from LME warehouses in Rotterdam, according to exchange data, drawing down available exchange inventories to the lowest in a year. SMM thinks this activity will decrease the inventories in LME and intensify the Backwardation structure of LME.

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