SHANGHAI, Dec 10 (SMM) – As of Friday December 10, the copper inventory across major Chinese markets dipped 1,100 mt from Monday to 90,100 mt.
The inventory decline was mainly seen in Jiangsu, mainly due to less shipments arrivals. The inventories increased across other major markets. The import window has remained open this week, driving continued inflows of imported cargoes. Meanwhile, the arriving shipments of domestic copper also increased after the domestic smelters resumed production. The supply pressure weighed on the spot quotes. The rally in the copper prices combined with the lower spot quotes sidelined downstream buyers, growing the inventories.