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Why LME Copper Inventories Surge? SMM Reports

iconMar 8, 2017 13:22
Source:SMM
LME copper inventories jumped to 261,975 tonnes on Tuesday, surging from an 8-month low of 65,550 tonnes seen on March 3.

SHANGHAI, Mar. 8 (SMM) – LME copper inventories jumped to 261,975 tonnes on Tuesday, surging from an 8-month low of 65,550 tonnes seen on March 3.

Why did LME copper inventories jump?

SMM learns that the surge is due mainly to deliveries by one large foreign trader to warehouses.

Approximately 90,000-100,000 tonnes had been delivered into listed warehouses, mainly from overseas markets.

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