Copper Inventories Down 10,500 mt from Monday

SHANGHAI, Aug 13 (SMM) - SMM data showed that copper inventories across mainstream areas in China fell 10,500 mt from this Monday to 159,500 mt as of Friday August 13.

Among them, inventories in Shanghai decreased 400 mt from this Monday to 95200 mt; Guangdong deceased 11,700 mt to 49400 mt; Jiangsu increased 1000 mt to 8100 mt; Tianjin fell 400 mt to 1800 mt; Zhejiang and Jiangxi were basically flat from this Monday.

Domestic overall inventories fell again after only one week’s rally, and re-stocking was mainly in Guangdong as arrivals shrank greatly on power curtailment across upstream smelters. In addition, copper imports fell from last week, partly contributing to the fall in overall inventories.