SHANGHAI, Apr 18 (SMM) - As of April 18, the copper inventory across major Chinese markets added 300 mt from last Friday April 15 to 139,600 mt. In detail, the inventories in Guangdong added 1,600 mt to 46,900 mt, the inventories in Jiangsu increased 1,400 mt to 7,100 mt, the inventories in Shanghai fell 1,300 mt to 80,200 mt, the inventories in Chongqing dropped 1,000 mt to 800 mt, and the inventories in Tianjin dipped 300 mt to 1,700 mt.
Since the end of last week, goods could be picked up in warehouses in Shanghai as the logistics were slightly improved. However, the arrivals were still limited. Some of the goods were transferred to Jiangsu, which is one of the reasons for the increase in inventories in Jiangsu over the weekend. The increase in Guangdong inventories was contributed by the added arrivals of imported copper and domestic copper. The shipment from west Inner Mongolia was hindered by the pandemic in this region, which further resulted in the decrease in arrivals and inventories in north China.
Looking forward, the inventories this week are going to drop with the recovery of logistics and the resumption of downstream production.
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.
