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.

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.

The trades in the copper import market was muted as the import window was closed. And the import premiums weakened.

As of Friday December 10, the copper inventory across major Chinese markets dipped 1,100 mt from Monday to 90,100 mt.

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.

As of Thursday September 30, the copper inventory in the mainstream Chinese market dipped by 21,000 mt from Monday to 90,100 mt, continuing to set a new low for the year.

As of Friday September 17, copper inventory across major Chinese markets plunged 11,200 mt from Monday to 112,000 mt, the lowest for the year, according to SMM data.