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Copper Inventories Piling Up in China over Coronavirus Shutdown-2020 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
3/3/2020 - Copper exhibition -non-ferrous metals expo |
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| The recent coronavirus epidemic has caused a heavy impact on demand and supply of copper, leading to a sharp increase in inventories in China. Downstream processors delayed their resumption of operations due to logistical constraints, delayed return of workers and the absence of approval from authorities. Smelters, meanwhile, maintained production since the Chinese New Year holiday, even as transportation restrictions led to a shortage of storage capacity for sulphuric acid and heightened risks of excessive inventory of finished goods, which would subdue production. SMM data showed that social inventories of copper across Shanghai, Jiangsu and Guangdong stood at 403,000 tonnes as of February 14, up 188,000 tonnes from January 23, the last trading day before the CNY holiday. The inventories are likely to continue to trend higher in February and exceed 500,000 tonnes. Meanwhile, copper stocks across bonded warehouses increased 27,800 tonnes, and are expected to see a larger gain following the recovery of operations of warehouses.
有色金属展-铜材展-2020年广州国际有色金属工业（铜业）展览会
-2020 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
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