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Home / Metal News / Copper inventories in major regions across China increased by 31,700 mt over the weekend [SMM Weekly Data].

Copper inventories in major regions across China increased by 31,700 mt over the weekend [SMM Weekly Data].

iconFeb 10, 2025 12:12
Source:SMM
[SMM Weekly Data on Copper Inventories in Major Regions] As of Monday, February 10, SMM copper inventories in major regions across China increased by 31,700 mt to 304,800 mt compared to last Thursday. Total inventories rose by 139,000 mt from the pre-holiday level of 165,800 mt, with Shanghai up by 71,100 mt, Guangdong up by 37,400 mt, and Jiangsu up by 29,000 mt from the same period before the holiday.
SMM, February 10: As of Monday, February 10, copper inventories in major regions across China tracked by SMM increased by 31,700 mt WoW to 304,800 mt. Total inventories rose by 139,000 mt compared to the pre-holiday level of 165,800 mt, with Shanghai up by 71,100 mt, Guangdong up by 37,400 mt, and Jiangsu up by 29,000 mt. Click here to apply for access to the SMM Metal Industry Chain Database.                   Specifically, inventories in Shanghai increased by 20,000 mt WoW to 175,500 mt, driven by the arrival of both imported and domestic copper. Inventories in Jiangsu remained flat WoW as downstream enterprises gradually resumed production, leading to no further inventory growth over the weekend. Guangdong inventories rose by 10,500 mt to 62,900 mt. Although outflows from warehouses in this region increased, as reflected by the rebound in Guangdong's daily average outflows, arrivals outpaced outflows.         Looking ahead, with the approach of delivery and the current significant spot discounts, transfers to delivery warehouses are expected to continue. Combined with the ongoing arrivals of imported copper, warehouse arrivals are expected to remain high this week. While downstream demand is increasing, it has not yet fully returned to normal levels. According to our survey, the weekly operating rate of copper cathode rod production is expected to rise to 62.64% this week, up by 44.89 percentage points WoW. Therefore, we anticipate an oversupply situation this week, with weekly inventories likely to continue increasing.

For queries, please contact William Gu at williamgu@smm.cn

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