Weekly copper stocks monitored by the three major exchanges have exceeded 500kt for the first time since the pandemic peak four years ago. This increase is due to a 15kt rise on the London Metal Exchange (LME) to 180kt, which more than offset a small 3.3kt reduction in Shanghai Futures Exchange (SHFE) monitored stocks. Meanwhile, copper stockpiles in China, which have ballooned this year, continued to slide, indicating a potential demand upturn in the world's biggest consumer of commodities. Additionally, copper supply is receiving a boost as Chile shows signs of recovery.
Copper Supply Gets a Boost as #Chile Shows Signs of Recovery https://t.co/0YmrgT7WBS
#China’s Copper Stockpiles Shrink Again in Hint at Demand Upturn https://t.co/AEzgzOzJC9
China’s copper stockpiles shrink again in hint at demand upturn https://t.co/8iTDneTOrz
Copper stockpiles in China, which have ballooned this year, continued to slide in a tentative sign that buyers are returning in the world’s biggest consumer of commodities https://t.co/0OwlvOgAZ0
Weekly #copper stocks monitored by the three major exhanges exceeded 500kt for the first time since the pandemic peak four years ago. A small 3.3kt reduction in SHFE monitored stocks being more than offset by a 15kt rise on LME to 180kt https://t.co/jKoXkglsyX
#Copper stocks monitored by the three major exhanges exceeded 500kt for the first time since the pandemic peak four years ago. A small 3.3kt reduction in SHFE monitored stocks being more than offset by a 15kt rise on LME to 180kt https://t.co/wuSIUgZkhO