Copper social inventories fell for 6 weeks

SHANGHAI, Apr 30 (SMM) – Copper inventories in China fell for a sixth straight week this week, due to a strong demand recovery.

SMM data showed that inventories of copper cathode across Shanghai, Guangdong and Jiangsu, including those in SHFE-approved warehouses, decreased 43,500 mt from last Friday April 24 to 308,900 mt as of Thursday April 30.

The stocks were 93,900 mt higher than the level recorded on January 23, the last trading day before the Lunar New Year holiday.