On February 6, the Shanghai Futures Exchange reported copper inventories as follows: Shanghai region totaled 69,985 tons, an increase of 73 tons from the previous day; Guangdong region totaled 24,108 tons, an increase of 750 tons from the previous day; Jiangsu region totaled 65,878 tons, a decrease of 1,330 tons from the previous day; Zhejiang region totaled 201 tons, unchanged from the previous day. The total inventory amounted to 160,172 tons, a decrease of 507 tons from the previous day.
PriceSeek analysis of copper, with a long-short score of 1.5, indicates that the total copper inventory on February 6 decreased by 507 tons (to 160,172 tons) compared to the previous day, signaling a reduction in supply and constituting a strong positive factor for spot copper prices. By region: Jiangsu experienced a significant decrease of 1,330 tons, serving as the primary positive driver; Shanghai and Guangdong saw increases of 73 tons and 750 tons, respectively, introducing some negative pressure but being offset by other factors; Zhejiang remained neutral with no change. Overall, the supply-demand balance has improved, supporting expectations for an upward trend in copper prices.
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