Copper cathode inventories in Guangdong fell for five straight weeks

Published: Apr 10, 2020 15:18

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SMM data showed that social inventories of copper cathode at major warehouses in Guangdong stood at 74,400 mt as of April 10, down 8,400 mt from Friday April 3.

SHANGHAI, Apr 10 (SMM) – Social inventories of copper cathode in south China’s Guangdong province continued to trend downsides, falling for the fifth consecutive week as of Friday April 10.

SMM data showed that social inventories of copper cathode at major warehouses in Guangdong stood at 74,400 mt as of April 10, down 8,400 mt from Friday April 3.

The stocks decreased 10,300 mt in the week ended April 3, accelerating from a weekly decline of 8,800 mt in the previous week.

Copper cathode inventories in China’s major consumption areas, including Guangdong, Shanghai and Jiangsu, totalled 433,400 mt as of April 10, down 28,700 mt from a week ago, according to SMM data. The overall stocks have declined for the third consecutive week as of April 10, but remained about 218,400 mt higher than the level before the Chinese New Year holiday (January 23).

Stocks of copper cathode in Shanghai shrank 20,000 mt week on week to 308,000 mt as of April 10.

Inventory data Copper

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