SHANGHAI, Jul. 21 (SMM) –SHFE copper stocks fell 30,000 tonnes in June, but have big potential to rebound in Q3, SMM predicts.
LME Copper Still Has Potential to Shine, SMM Says
SMM attributes the decline in June to previous maintenance at smelters and lower inflows of imported copper.
Blister Copper Shortage Affects Copper Output at China Ten Major Smelters, SMM Reports
However, Chinese smelters will put new capacity on stream and step up production in H2 2017 to compensate for lost production from facility maintenance. This will allow SHFE copper stocks to rebound, SMM explained.
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