Copper cathode inventories in Guangdong accelerated declines on weekend

SHANGHAI, Mar 16 (SMM) – Social inventories of copper cathode in south China’s Guangdong province accelerated their destocking paces over the weekend after the stocks posted their first weekly decline post-holiday as of March 13. 

SMM data showed that social inventories of copper cathode at four major warehouses in Guangdong stood at 104,900 mt as of March 16, down 5,500 mt from Friday March 13. The stocks shrank 5,800 mt in the week ended March 13.