China's Copper Inventory Continues to Decline, But at a Slower Pace Amid Eased Supply Constraints

Published: Apr 23, 2026 13:40

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【SMM Copper Inventory Update】Social inventory of copper cathode in China's major regions continued to destock, but the destocking pace slowed down notably. Recently, imported copper supplies arrived at ports successively as replenishment, while arrivals of domestically produced supplies remained relatively low overall. Sustained release of rigid demand in the market supported a steady pullback in inventory. However, as the tight supply situation eased marginally, coupled with weakening downstream consumption, the destocking speed narrowed in this round.

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