]Copper inventories in both SHFE and LME markets pulled back, with LME copper inventories dropping to a new low in over a year

Published: Jun 16, 2025 15:12

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Data released by the London Metal Exchange (LME) showed that LME copper inventories continued to decline last week, with the latest inventory level reaching 114,475 mt, the lowest in over a year.

The latest data released by the Shanghai Futures Exchange indicated that during the week of June 13, SHFE copper inventories dropped back slightly, with weekly inventories increasing by 5.08% to 101,943 mt. International copper inventories increased by 299 mt to 11,373 mt.

Last week, COMEX copper inventories continued to increase, with the latest inventory level reaching 196,046 mt, hitting a nearly seven-year high.

Note: Generally speaking, 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 June 2025: (Unit: mt)

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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