Large inflow of stock increases domestic electrolytic copper inventory again

According to Mysteel statistics, as of February 5th, the domestic spot inventory of electrolytic copper is 352,300 tons, an increase of 11,500 tons compared to February 2nd. All markets experienced varying degrees of growth; in Shanghai, with some smelters still delivering relatively large amounts during the week, certain warehouses saw a significant increase in stock. Although copper prices have fallen and downstream companies’ purchasing demand has increased, the overall inbound volume remains high, leading to continued accumulation of inventory.