Copper social inventories shrank 5,900 mt on week

Published: Jul 2, 2021 15:06

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Social inventories of copper in China's major trading markets decreased 5,900 mt from June 28 to 232,700 mt as of Friday July 2, according to SMM data.

SHANGHAI, Jul 2 (SMM) – Social inventories of copper in China's major trading markets decreased 5,900 mt from June 28 to 232,700 mt as of Friday July 2, according to SMM data.

Among them, stocks in Shanghai decreased 3,800 mt from Monday to 112,500 mt. Stocks in Guangdong fell 400 mt to 89,900 mt from Monday. Stocks in Jiangsu went up 700 mt to 19,300 mt from Monday. Stocks in Zhejiang decreased 400 mt to 3,900 mt from Monday. Stocks in Chongqing decreased 600 mt to 1,400 mt from Monday. Stocks in Jiangxi, Chengdu and Tianjin remained unchanged from Monday.

Copper social inventories continued to decline on week, while the decline was lower than the previous two weeks. From the arrivals and shipments, the main reason for inventory reduction was the decrease of arrivals and the outbound quantity was relatively stable this week. However, after terms of trade decreased last week, the inflow of goods shrank, resulting in a decline in copper social inventories.

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.

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