Copper inventories in major regions across China decreased by 4,500 mt during the week [SMM Weekly Data]

Published: Mar 13, 2025 12:45

Save

[SMM Weekly Data on Copper Inventories in Major Regions] As of Thursday, March 13, copper inventories in major regions across China tracked by SMM fell by 4,500 mt WoW to 355,500 mt, down by 12,500 mt compared to last Thursday, marking two consecutive weeks of weekly destocking. Currently, inventories have pulled back by 20,600 mt from the yearly high and are 33,600 mt lower YoY.

SMM March 13 News: As of Thursday, March 13, SMM copper inventories in major regions across China decreased by 4,500 mt from Monday to 355,500 mt, down by 12,500 mt WoW, marking two consecutive weeks of weekly destocking. Currently, inventories have fallen back from highs earlier this year by 20,600 mt and are 33,600 mt lower YoY.

》Click to Apply for Access to the SMM Metal Industry Chain Database

Specifically, inventories in Shanghai slightly increased by 500 mt from Monday to 235,400 mt, while inventories in Jiangsu rose by 1,200 mt to 59,000 mt. The main reason for the inventory increase in these regions was the weakening downstream consumption due to rising copper prices, though the limited arrivals of imported copper capped the growth. In Guangdong, inventories fell by 600 mt to 53,600 mt, as arrivals were extremely scarce (due to export activities by nearby smelters, increased direct shipments from smelters, and reduced shipments from other provinces to Guangdong as local consumption increased), while consumption remained moderate. This is also reflected in the high daily average outflows from warehouses in Guangdong.

Looking ahead, with the export window opening, future imports are expected to remain low while exports are likely to increase, suggesting that supply next week will still be limited. On the downstream consumption side, as copper prices continue to rise, some downstream orders have already started to decline, and consumption is expected to decrease next week. Therefore, we anticipate a weak supply and demand scenario next week, with weekly inventories continuing to decline, though the decrease may be smaller than last week.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

17 hours ago

Fed's Waller: Ready to Cut Rates if Labor Market Weakens, Cautious on Inflation Risks

US Fed Governor Christopher Waller said on Friday that if signs of weakness emerged in the labor market, he would again support an interest rate cut later this year, while remaining alert to the inflationary pressures that the current geopolitical situation may bring.Waller noted that a closure of the Strait of Hormuz signaled greater inflationary pressure, and that higher oil prices could ultimately affect core inflation. He stressed that the current cautious stance did not mean there would be no action for the rest of the year.His remarks sent an important signal to the market—that the window for an interest rate cut had not closed, provided that employment data showed clear weakening.

17 hours ago

IRGC: US Carrier Ford's Deployment and Withdrawal Reflects "Desperate and Humiliating" Reality for US, Israel

According to Xinhua News Agency, the Islamic Republic News Agency reported on the 20th that the Islamic Revolutionary Guard Corps issued a statement saying that, despite extensive attention from Western media, the US Navy aircraft carrier Ford was deployed to the West Asia region but failed to provide support for US forces there and instead withdrew from the battlefield, reflecting the “desperate and humiliating” reality facing the US and Israel.

17 hours ago

US Treasury Secretary Bessent: SPR Release Complexity and Limits Amid Oil Price Stabilization Efforts

US Treasury Secretary Bessent claimed that the Strategic Petroleum Reserve (SPR) could be tapped again to suppress oil prices, but the reality was far more complex than this statement suggested—the reserve level was already close to the statutory minimum, and physical safety constraints left extremely limited room for any further release.Last week, Bessent said that the US had participated in the largest internationally coordinated SPR release operation to date, totaling 400 million barrels, and warned that, if necessary, the US could once again unilaterally release reserves to stabilize oil prices.

17 hours ago