ChemPriceHub Alert: Shanghai Copper Inventory Increases by 2,531 Tons

On January 9, the Shanghai Futures Exchange reported copper inventories in Shanghai totaling 40,339 tons, an increase of 1,027 tons from the previous day. Copper inventories in Guangdong totaled 21,295 tons, remaining unchanged from the previous day. Copper inventories in Jiangsu totaled 49,381 tons, an increase of 1,504 tons from the previous day. Copper inventories in Zhejiang totaled 201 tons, also unchanged from the previous day. The total inventory across all regions amounted to 111,216 tons, an increase of 2,531 tons from the previous day.

PriceSeek's analysis of copper, with a long-short score of -1, indicates that the overall increase of 2,531 tons in copper inventories, with rises of 1,027 tons in Shanghai and 1,504 tons in Jiangsu, reflects growing supply pressure and relatively weak demand. This generally exerts bearish pressure on spot prices, potentially leading to downward price pressure.