Copper Inventory in Shanghai Bonded Zone down 12,200 mt

Published: Aug 20, 2021 13:26

Save

Copper inventories in the Shanghai bonded zone decreased 12,200 mt from August 13 to 368,500 mt as of August 20, the sixth straight week of decline.

SHANGHAI, Aug 20 (SMM) – Copper inventories in the Shanghai bonded zone decreased 12,200 mt from August 13 to 368,500 mt as of August 20, the sixth straight week of decline.

An improved SHFE/LME copper price ratio, driven by domestic electricity curtailment, shortage of copper scrap and limited inflow of imported cargoes, has incentivised customs clearances. Yangshan copper premiums surged amid tight supply, with the average premium under warrants surging over $50/mt in three trading days.

Continued imports under warrants are likely to drive further declines in bonded zone inventories.

copper inventory

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

13 hours ago

INE to Expand Tradable Options for Qualified Foreign Investors, Adding TSR 20 Rubber and Copper Contracts

According to an announcement by the Shanghai International Energy Exchange, with the approval of the China Securities Regulatory Commission, effective April 22, 2026 (from the night continuous trading session on April 21), the Shanghai International Energy Exchange (hereinafter referred to as INE) will further expand the range of tradable products available to Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors (collectively, Qualified Foreign Investors), with the newly added commodity options contracts open for trading as follows: TSR 20 rubber and international copper options contracts.

13 hours ago

Copper Inventories in Major Regions of China Continued Destocking During the Week [SMM Weekly Data]

13 hours ago

SMM Copper Wire and Cable Operating Rate Rises Slightly to 70.77%, Market Performance Mediocre

[SMM Copper Wire and Cable Operating Rate] The operating rate of SMM copper wire and cable enterprises was 70.77% this week, up 0.24 percentage points MoM. Overall operating performance was stable, while market performance was relatively mediocre. During the week, the pullback in copper prices suppressed the release of new orders, but enterprises had ample orders on hand and pending delivery, supporting basically stable production. New orders across downstream segments were generally weak, with demand in the home decoration sector particularly mediocre due to rising plastic raw material prices.

13 hours ago