Copper inventories in both SHFE and LME markets rebound, with LME copper inventories rising to a new high in over a month

Published: Jul 21, 2025 16:11

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Data released by the London Metal Exchange (LME) showed that LME copper inventories continued to rebound last week, reaching a new high of over one month at 122,175 mt.

The latest data released by the Shanghai Futures Exchange showed that SHFE copper inventories dropped back slightly during the week of July 18, with weekly inventories increasing by 3.8% to 84,556 mt, remaining at a relatively low level for two months. International copper inventories decreased by 25.91% to 11,616 mt.

Last week, COMEX copper inventories continued to rebound, reaching a new high of over seven years at 242,837 mt.

Note: Generally speaking, a continuous decline in inventories at domestic and overseas exchanges will support futures prices, while the opposite will have a bearish impact on futures prices.

Comparison of Copper Inventories at the Three Major Exchanges Since 2023

The following are the copper inventory data at the three major exchanges since July 2025 (unit: mt):

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.

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