Copper Inventories across Major Chinese Markets Added 1,100 mt

SHANGHAI, Sep 3 (SMM) – Total copper inventories across major markets in China grew 1,100 mt from Monday to 131,100 mt as of Friday September 3, according to SMM data.

Copper inventories in Shanghai increased 5,100 mt from Monday to 88,900 mt; copper inventories in Guangdong decreased 5,400 mt to 26,800 mt; copper inventories in Jiangsu were up 2,000 mt to 11,100 mt; copper inventories in Tianjin dipped 400 mt to 200 mt.

SMM understood that imported copper arrived this week. Some traders transported cargoes directly to copper semis producers, so delivery taking by downstream buyers decreased. And inventories in east China increased noticeably.

Inventories in Guangdong continued to fall due to low shipments arrivals of domestic cargoes.