SHANGHAI, Jul 26 (SMM) - SMM copper cathode inventories across major regions in China fell by 2,100 mt from last Friday to 156,300 mt as of Monday July 26.
Inventories in Shanghai increased 2,800 mt to 81,900 mt; stocks in Guangdong increased 1,200 mt to 64,300 mt; stocks in Jiangsu dipped 200 mt to 6,300 mt, and inventories in Zhejiang fell 1,600 mt to 1,300 mt. Stocks in Chongqing and Chengdu stood flat, while inventories in Jiangxi and Tianjin declined slightly.
The decrease in the copper cathode inventories slowed down in the weekend. The stocks increased in Shanghai and Guangdong, mainly due to the inflow of imported copper. Whether the inventories will further drop across the country is worth attention.