China copper inventory grew for the second straight week

SHANGHAI, Jul 10 (SMM) – Copper inventories in three major consumption areas in China continued to rise this week, after subdued demand amid high prices drove up the stocks in the previous week, which was the first weekly build since March 20. 

SMM data showed that inventories of copper cathode across Shanghai, Guangdong and Jiangsu, including those in SHFE-approved warehouses, increased 1,400 mt from July 3 to 200,600 mt as of Friday July 10. 

Inventories in Shanghai expanded 4,500 mt week on week to 156,500 mt as of July 10. Stocks in Jiangsu and Guangdong, meanwhile, declined 2,000 mt and 1,100 mt, respectively, from a week ago to 26,000 mt and 18,100 mt.