Limited arrivals and smooth cargo pick-ups lead to a decline in copper inventories in mainstream regions [SMM weekly data]

SMM, September 30:

Data summary: As of Thursday, September 30, SMM copper inventories in mainstream regions across China fell by 1,100 mt WoW to around 70,000 mt, down more than 70,000 mt from the 140,000 mt-plus level in the same period last year.

By region, major consumption areas in east China all saw destocking, mainly because goods from earlier stockpiling orders were gradually picked up; arrivals in south China decreased, and inventories also pulled back.

Overall, supply-side arrivals of imported and domestic cargoes were limited, while demand-side pre-holiday stockpiling drove cargo pick-up, and inventories continued to destock. For complete regional inventory data, historical series, and detailed changes, please log in to the SMM data terminal.