Non-ferrous

Base Metals

Rare Earth

Scrap Metals

Minor Metals

Precious Metals

Ferrous Metals

Iron Ore Index Iron Ore Price Coke Coal Pig Iron Steel Billet Finished Steel

New Energy

Solar Lithium Cobalt Cathode Material Phosphorus Carbon Anode Separator Electrolyte Battery Cell And Module Battery Recycling Nickel And Manganese Other Materials Sodium-ion Battery Hydrogen Energy

Price Center DatabasePro Reports Events Car Insight

Home / Metal News / LME Copper Price Dives after Delivery Triggers Inventory Surge, Where is it Head? SMM Reports

LME Copper Price Dives after Delivery Triggers Inventory Surge, Where is it Head? SMM Reports

Sep 13, 2017 17:04

Source:SMM

LME 3-month copper continued falling after closing of the SHFE market on September 13, down 1.22% as of 4:31 pm.

SHANGHAI, Sept. 13 (SMM) – LME 3-month copper continued falling after closing of the SHFE market on September 13, down 1.22% as of 4:31 pm.

LME copper fell over the past few days after reaching a 3-year high on September 5 due to a surge in LME copper inventories, SMM reckoned.

Morgan Stanley: Fundamentals Not Good Enough to Keep Copper Price above $6,600

LME copper inventories increased 27,850 to 246,575 tonnes after one large trader delivered goods to LME warehouse. Position closing after profit-taking is also a factor dragging down LME copper prices, SMM said.

LME Copper Net Longs Fall Sharply Last Week after Growing for 7 Weeks

Where will copper price head?

Market players mostly believe copper price will fall further to the 40-day moving average. November copper on the SHFE will fall to 50,000 yuan per tonne, and LME copper will drop to $6,500 per tonne.

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

Copper prices

SHFE copper prices

LME copper prices

copper inventories

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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

The copper inventories across major Chinese markets fell 12,600 mt from a week earlier to 82,600 mt as of Friday November 12, according to SMM data, which is also the first time the inventory fell below 90,000 mt this year.

Nov 12, 2021 13:20

Analysis

Copper Inventory in Major Chinese Markets Decreased 12,600 mt on Week

Copper Scrap Supply Still Tight, Consumption Relatively Weak

Copper prices opened lower last week. In contrast, the traded prices of copper scrap were high due to tight supply and stockpiling by processing companies after the Mid-Autumn Festival holidays.

Sep 27, 2021 11:09

Analysis

Copper Scrap Supply Still Tight, Consumption Relatively Weak

Shanghai Bonded Copper Stocks Fell 11,400 mt on Week

SMM data showed that the stocks of copper in Shanghai bonded areas fell 11,400 mt from last Friday August 6 to 380,700 mt as of August 13, falling for five consecutive weeks, while de-stocking slowed from last week.

Aug 13, 2021 16:47

Analysis

Shanghai Bonded Copper Stocks Fell 11,400 mt on Week

Copper Inventories Down 10,500 mt from Monday

SMM data showed that copper inventories across mainstream areas in China fell 10,500 mt from this Monday to 159,500 mt as of Friday August 13.

Aug 13, 2021 12:03

Analysis

Copper Inventories Down 10,500 mt from Monday

Copper Inventories Down 6,100 mt on Week

Copper inventories in domestic mainstream areas decreased on weakened de-stocking.

Jul 30, 2021 16:36

Analysis

Copper Inventories Down 6,100 mt on Week

SMM strives to provide better pricing services after achieving IOSCO standards in price assessments

SMM is the first non-ferrous metal pricing platform in China that has passed the independent audit of the International Organization of Securities Commissions (IOSCO) financial index standard in 2020. This is also the first year that the China leading pricing provider has achieved the ISOCO standards.

Dec 4, 2020 09:30

SMM Comments Analysis SMM Insight

SMM strives to provide better pricing services after achieving IOSCO standards in price assessments

LME Copper to Fall Further (2017-10-20)

LME copper will drop to USD 6,940-6,990/mt today on negative technical side, while SHFE 1712 copper will move at RMB 54,100-54,600/mt.

Oct 20, 2017 09:44

SMM Comments

LME Copper to Test Support (2017-10-19)

Most base metals fell yesterday. Copper prices corrected down further due to strong US dollar.

Oct 19, 2017 09:34

SMM Comments

Copper Spot Premiums Plunge on Selloffs, SMM Reports

Spot premiums on copper slumped on October 12 due to selloffs, SMM reported.

Oct 12, 2017 17:50

SMM Insight Industry

Copper Spot Premiums Plunge on Selloffs, SMM Reports

LME Copper to Face Great downward Pressure (2017-9-22)

LME copper will fluctuate between USD 6,425-6,470/mt on Friday, and SHFE 1709 copper will drop further to RMB 49,800-50,300/mt.

Sep 22, 2017 09:34

SMM Comments

LME Copper to Face Great downward Pressure (2017-9-22)

SMM Events & Webinars

All

Oct
14
- SMM LME Metals Seminar 2025
  Oct 14 - 14,2025
  London , the United Kingdom
Oct
20
- Li-ION BATTERY China
  Oct 20 - 21,2025
  Xiamen, China
Oct
20
- APAC (10th) Ni-Cr-Mn Stainless Steel & New Energy Conference 2025
  Oct 20 - 21,2025
  Xiamen, China

LME Copper Price Dives after Delivery Triggers Inventory Surge, Where is it Head? SMM Reports

SMM Events & Webinars

SMM LME Metals Seminar 2025

Li-ION BATTERY China

APAC (10th) Ni-Cr-Mn Stainless Steel & New Energy Conference 2025