Domestic Bonded Copper Inventories Decline Further as Arrivals Remain Limited

Published: Aug 16, 2024 16:48

Save

According to SMM research, domestic bonded copper inventory declined by 3,700 tonnes from the previous week (August 8) to 83,900 tonnes on Thursday (August 15). Among them, the bonded inventory in Shanghai decreased by 3,100 tonnes from the previous week to 80,900 tonnes, while the bonded inventory in Guangdong decreased by 600 tonnes to 3,000 tonnes. The continuous drawdown of bonded warehouse inventory this week was mainly due to the successive inflow of warehouse receipts previously traded into the domestic market. Looking ahead, there will not be many arrivals of electrolytic copper in August, most of which will be directly arranged for import, and domestic mainstream smelters have no export plans for the time being. It is expected that bonded warehouse inventory will continue to decline.

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

11 hours ago

Chile's Copper Output Drops 13.8% in April, Metal Production Also Falls

Chile is the world's largest copper-producing country. Data released on Friday by Chile's National Bureau of Statistics (INE) showed that the country's copper production in April declined 13.8% YoY.According to official data, Chile's copper production in April was 399,954 mt, compared with 464,056 mt in the same period last year. The production decline was mainly attributable to a high base in the same period last year and lower ore grades at major miners.In addition, metal products production fell 15.4% YoY, further dragging down the overall performance of the manufacturing sector.

11 hours ago

Codelco's Q1 2026 Profit Triples to $825M Despite 8% Drop in Copper Production

Codelco, one of the world's largest copper producers, released its earnings report on Friday. Benefiting from stronger copper prices, the company's pre-tax profit reached $825 million in Q1 2026, nearly tripling compared to the same period last year when it stood at $213 million. Codelco stated that the company's total copper production from January to March was 272,000 mt, down 8% compared to the same period last year.Codelco reported its Q1 2026 results. Market conditions for copper and various by-products improved during the quarter, but the company's own production declined.From January to March, the company's own copper mine production reached 272,000 mt of concentrates, down 8.1% compared to the same period in 2025.

11 hours ago

Commerzbank Forecasts Copper Prices to Reach $14,250 per MT by Mid-2027

Commerzbank expects copper prices to rise to $14,250 per mt by mid-2027.

11 hours ago