Copper cathode inventories in Guangdong slowed increase on weekend

SHANGHAI, Mar 2 (SMM) – Social inventories of copper cathode in south China’s Guangdong province slowed their increase over the weekend, and a turning point in the trend of inventories will likely emerge soon on the steady recovery of  consumption, SMM expects. 

SMM data showed that social inventories of copper cathode at four major warehouses in Guangdong rose to an all-time high of 113,200 mt as of March 2, up 1,200 mt from Friday February 28. 

Copper cathode stocks across three warehouses in Guangdong climbed 5,500 mt week on week to 102,800 mt as of February 28, SMM data showed.