SHANGHAI, Apr 25 (SMM) - As of Monday April 25, the copper inventory across the major Chinese market dipped by 12,400 mt from last Friday to 114,900 mt. On weekends, the inventories all over the country decreased. In detail, the inventories in Shanghai dipped 2,500 mt to 73,900 mt, the inventories in Guangdong dropped 6,600 mt to 32,300 mt, the inventories in Jiangsu fell 2,000 mt to 5,100 mt, the inventories in Chongqing dropped 600 mt to 200 mt, and the inventories in Tianjin dipped 300 mt to 1,100 mt. The total inventory of the whole country was 214,100 mt lower than that of the same period last year, with the inventory in Shanghai dropping the most. The decrease in inventory in the last two days is contributed by the active downstream restocking as the copper prices dropped sharply. Besides, the gradual improvement of trans-provincial logistics has also led to a continuous decline in inventory, especially in the Guangdong inventories. Looking forward to this week, all downstream manufacturers will have certain restocking demand approaching the May Day holiday. SMM expects that the inventory this week will continue to decline thanks to the improved logistics.
Disclaimer:
The above representation and data is based on market information SMM believes to be reliable at the time of acquiring as well as the comprehensive assessment by SMM research team, and any and all information provided in this article is for reference only. This article does not constitute a direct recommendation for investment or any decisions in any form and clients shall act on their own discreet and any decisions made by clients are not within the responsibility of SMM.
