LME copper inventory drops to a new low in nearly a year, while SHFE copper inventory rebounds slightly

Data released by the London Metal Exchange (LME) showed that LME copper inventories maintained a downward trend last week, with the latest inventory level at 132,400 mt, hitting a new low in nearly a year.

The latest data released by the Shanghai Futures Exchange indicated that during the week of June 6, SHFE copper inventories rebounded slightly, with weekly inventories increasing by 1.52% to 107,404 mt. International copper inventories held steady at 11,074 mt.

Last week, COMEX copper inventories continued to accumulate, with the latest inventory level at 187,877 mt, reaching a new high in nearly seven years.

Note: Generally, a continuous decline in inventories at domestic and overseas exchanges will support futures prices, while the opposite will have a bearish impact on futures prices.

Comparison of Copper Inventories at the Three Major Exchanges Since 2023

The following are the copper inventory data at the three major exchanges since May 2025: (Unit: mt)