China copper inventory shrank for the 13th week with lower stocks in Guangdong

Published: Jun 12, 2020 13:32

Save

Copper inventories in three major consumption areas in China extended their declines this week, falling for the 13th consecutive week as of June 12, but stocks in Shanghai expanded for the second straight week and inventories in Jiangsu rebounded.

SHANGHAI, Jun 12 (SMM) – Copper inventories in three major consumption areas in China extended their declines this week, falling for the 13th consecutive week as of June 12, but stocks in Shanghai expanded for the second straight week and inventories in Jiangsu rebounded.

SMM data showed that inventories of copper cathode across Shanghai, Guangdong and Jiangsu, including those in SHFE-approved warehouses, decreased 3,200 mt from a week ago to 198,900 mt as of Friday June 12. The stocks dipped 2,800 mt in the previous week.

Guangdong accounted for the overall decline this week, falling 8,900 mt week on week to 13,200 mt, driven by reduced shipments from smelters, limited arrivals of imported copper and brisk consumption.

Limited availability has lifted spot copper premiums in Guangdong to 95 yuan/mt as of June 12, from 45 yuan/mt on Monday, while offers in Shanghai flipped to discounts on June 8.

Inventories in Shanghai added 5,000 mt from a week ago to 162,000 mt as of June 12, with stocks in Jiangsu edging up 700 mt on the week to 23,700 mt.

Inventory data Copper

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

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

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

Related News

18 mins ago

High Copper Prices: Price-Volume Divergence and Industry Pains

The operating rate for secondary copper rod was 20.17% in January 2026, exceeding the expected 18.56%, but decreased 0.25 percentage points MoM and 6.73 percentage points YoY. China's secondary copper rod market experienced a month of contradictions and stalemate amid unprecedented high copper prices and complex policy environments.

18 mins ago

Feb 6, 2026 23:56

"Premier Li Qiang Leads State Council Meeting on Enhancing Effective Investment, Boosting Economic Growth"

Premier Li Qiang presided over an executive meeting of the State Council to study policy measures for promoting effective investment. The meeting noted that promoting effective investment plays an important role in stabilizing economic growth and strengthening momentum for development. It is necessary to innovate and improve policy measures, and intensify efforts to enhance the efficiency of utilizing funds such as central budget investments, ultra-long-term special treasury bonds, local government special bonds, and new-type policy-based financial instruments. In conjunction with formulating and implementing the 15th Five-Year Plan

Feb 6, 2026 23:56

Feb 6, 2026 23:54

"Guided by Xi Jinping Thought, Implement 20th CPC Congress Spirit, Apply New Development Philosophy...

Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the plenary sessions of the Party’s 20th Central Committee, fully and faithfully apply the new development philosophy, strengthen top-level design, build computing power interconnection nodes oriented toward national hub periods, major strategic regions, and key industries, establish a system of computing power interconnection nodes, improve the efficiency and service level of public computing power resources, and promote high-quality development of computing power.

Feb 6, 2026 23:54