SHANGHAI, Oct 11 (SMM) – As of Monday October 11, the copper inventory in the mainstream Chinese market added 1,400 mt from Friday October 8 to 112,400 mt. The increase was mainly contributed by east China.

In details, the inventory in Shanghai rose 4,100 mt to 80,000 mt from last Friday. While Guangdong saw a decline in the inventory by 2,700 mt to 14,500 mt. The other regions basically remained unchanged.

The increase in the inventory was largely the result of rising inventory of copper cathode over the weekend, as well as arrivals of imported copper, especially in Shanghai. Meanwhile, the downstream demand has been sluggish due to the power rationing, reducing the shipments. The power rationing polices in Guangxi and Yunnan are still tight, constraining the increase of supply.

Looking forward, the weekly inventory is likely to fall this week amid less arrivals and easing power rationing polices across the downstream sector.