en.Wedoany.com Reported - Global copper inventories are showing a divergent pattern: Copper stockpiles on the Shanghai Futures Exchange in China have been steadily declining, while inventories in London and New York remain elevated. According to the latest data, as of the week ending April 30, Shanghai copper inventories fell 4.64% week-on-week to 192,025 tonnes, marking a three-and-a-half-month low. Over the same period, international copper inventories saw a slight increase of 459 tonnes to 19,618 tonnes.

Copper inventories on the London Metal Exchange (LME) have fluctuated within a range recently, rising first and then falling last week, with the latest level at 398,675 tonnes, still at a more than twelve-year high. Copper stockpiles on the New York Mercantile Exchange (COMEX) continued to climb, with the latest figure reaching 616,825 tonnes, setting a new record high.

Changes in copper inventories serve as an indicator for futures prices: Typically, declining inventories provide support for prices, while rising inventories may exert bearish pressure. The current decrease in Chinese copper inventories may reflect a recovery in domestic demand, but with ample overall global stockpiles, the trajectory of copper prices still requires comprehensive assessment.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com