Shanghai-bonded copper stocks drop 10,000 mt on week

China sulphuric acid index falls for nine consecutive weeks with a widening decline; sulphur domestic trade rebounds from lows, while sulphuric acid outside China stops falling and stabilizes [SMM Sulphuric Acid Weekly Review]

[SMM Analysis: Copper Prices Retreat after Rapid Rise, Secondary Copper Suppliers Sell Actively] This week, the most-traded SHFE copper contract rose initially but then pulled back, breaking through the 110,000 yuan/mt mark mid-week before retreating sharply to 108,440 yuan/mt, and then stabilizing at 109,170 yuan/mt amid wild swings. The price difference between copper cathode and copper scrap pulled back from a high of 5,410 yuan/mt to a range of 3,329-3,435 yuan/mt. This week, the copper scrap market continued to face a structurally tight supply, with high invoice tax rates and scarce compliant supply remaining the underlying constraints ......