Home / Metal News / Lead / Why did China Copper Inventories Fall Sharply amid Weak Demand and High Imports?
Why did China Copper Inventories Fall Sharply amid Weak Demand and High Imports?
Jul 14, 2016 08:57CST
Source:SMM
Copper Inventories on the Shanghai Futures Exchange (SHFE) fell 49101 tonnes in June, while copper stocks in bonded area fell about 40,000 tonnes.

SHANGHAI, Jul 14 (SMM) - Copper Inventories on the Shanghai Futures Exchange (SHFE) fell 49,101 tonnes in June, while copper stocks in bonded area fell about 40,000 tonnes. Meanwhile, China’s unwrought copper and copper semis imports were a high of 420,000 tonnes in June, up 20.34% year-on-year, according to China Customs.

What’s behind the big decline in China’s copper stocks despite soft demand and high imports?

Copper inventories at LME’s Asia-based warehouses added nearly 80,000 tonnes from June, SMM finds.

Big Sea Waves at Chilean Ports Delay Copper Exports, What Impact on China Copper Market?

“These copper imports are believed to have been re-exported to LME warehouses, and that’s why China’s copper inventories declined despite soft demand.” one SMM copper analyst said. “Copper inventories at LME warehouses may continue to grow in the near term.”

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn. 


copper inventories
SHFE copper inventories
LME copper inventories

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news