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China copper inventory decline regained pace after the Labour Day holiday
SMM data showed that inventories of copper cathode across Shanghai, Guangdong and Jiangsu, including those in SHFE-approved warehouses, decreased 22,900 mt from Wednesday May 6 to 282,600 mt as of Friday May 8.
SHANGHAI, May 8 (SMM) – Copper inventories in China saw another steep fall in just two trading days after the Labour Day holiday, pointing to strong demand for the yellow metal.
SMM data showed that inventories of copper cathode across Shanghai, Guangdong and Jiangsu, including those in SHFE-approved warehouses, decreased 22,900 mt from Wednesday May 6 to 282,600 mt as of Friday May 8. The stocks dipped 3,400 mt over the five-day holiday break.
Compared to January 23, the last trading day before the Lunar New Year holiday, the stocks were 67,600 mt higher, while those in south China’s Guangdong were 10,400 mt lower.
Inventory data
Copper
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