China Copper Inventories Drop in Bonded Area in First Trading Week of 2017

As of Monday March 21, SMM copper inventory across major Chinese markets decreased 9,900 mt from last Friday to 162,600 mt.

Copper inventories in the domestic bonded zones increased 7,800 mt from March 11 to 331,400 mt as of Friday March 18, according to the most recent SMM survey.

As of Friday, January 28, the copper inventories in major domestic markets increased 8,300 mt from Monday to 98,700 mt, and added 9,700 mt from a week earlier, growing for the third straight week.

China imported a combined 325,500 mt of copper cathode (unwrought copper cathodes and unwrought other copper cathodes with Cu> 99.9935%) in November 2021, up 22.83% on the month but down 2.42% on the year, according to the General Administration of Customs. Year-to-date imports through November totalled around 3.04 million mt, a decrease of 27.85% on the year.

As of Monday December 6, the copper inventory across major Chinese markets increased 8,500 mt from last Friday to 91,200 mt. The inventory increase over the weekend was mainly in Shanghai and Guangdong. And the inventory in Jiangsu, Chongqing and Tianjin grew slightly. The inventory in other regions changed little.

As of Monday November 8, the copper inventory across major Chinese markets fell 800 mt from last Friday to 95,200 mt.The copper inventories fell on Monday after four consecutive weeks of gains.

SMM understood that Codelco plans to set the benchmark premium for long-term contracts of copper cathode to China in 2022 at $105/mt, much higher than the $88/mt in 2021. Many domestic traders have received offers, but none have accepted them.

SHANGHAI, Oct 8 (SMM) - As of October 8, the copper inventory across China’s major trading markets increased by 20,900 mt from September 30 to 111,000 mt.

Hectic trades sent Yangshan copper premiums rising sharply last week.

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