SHANGHAI, May 29 (SMM) – Copper inventories in three major consumption areas in China extended their slide this week, falling for the 11th consecutive week as of May 29.
SMM data showed that inventories of copper cathode across Shanghai, Guangdong and Jiangsu, including those in SHFE-approved warehouses, decreased 32,500 mt from a week ago to 205,000 mt as of Friday May 29. The stocks dipped 17,600 mt in the previous week.
Guangdong and Shanghai accounted for the overall decline this week, falling 6,800 mt and 27,000 mt, respectively, week on week to 22,400 mt and 155,000 mt.
Inventories in Jiangsu rebounded 1,300 mt from a week ago to 27,600 mt as of May 29.
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