Copper falls on signs of slowing demand

Reuters2021-03-29

HANOI, March 29 (Reuters) - London copper prices fell on Monday amid rising exchange inventories and signs of weakening demand from top consumer China weighed on sentiment.

Three-month copper on the London Metal Exchange fell 0.7% to $8,900 a tonne by 0321 GMT, while the most-traded May copper contract on the Shanghai Futures Exchange advanced 1.1% to 66,290 yuan ($10,131.28) a tonne, tracking gains in London in the previous session.

Copper inventories in LME warehouses have risen 67% so far in March to 123,800 tonnes, their highest since Dec. 16, 2020. Stockpiles of the metal in ShFE warehouses

were last at 188,359 tonnes, a high level unseen since September 2020.

Meanwhile, Yangshan copper premium dropped to $60 a tonne, its lowest since Dec. 23, 2020, as inventories in bonded warehouses leaped to 382,000 tonnes, their highest since July 2019, indicating weakening demand for imported metal into China.

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Comments

Daniel Tay
2021-03-29
Daniel Tay
Likes and comment pls
- nicholastsj:
  comment
Tiongwee
2021-03-29
Tiongwee
Great!
Yoxin
2021-03-29
Yoxin
Awesome
- Yoxin:
  Good to know
Kess
2021-03-29
Kess
World wide stockpile has been going up for the past few weeks. Kind of inflated in my opinion.
Yc3
2021-03-29
Yc3
Like and comment pls
- Yc3:
  Ok
- schsch:
  like and comment pls ‌[财迷] ‌
kino318
2021-03-29
kino318
Bubble start?
- Yc3:
  I thinj so

Leave a comment

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Kind of inflated in my opinion.","listText":"World wide stockpile has been going up for the past few weeks. Kind of inflated in my opinion.","text":"World wide stockpile has been going up for the past few weeks. Kind of inflated in my opinion.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/352415946","repostId":2123528058,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":352416329,"gmtCreate":1616992745461,"gmtModify":1704800541666,"author":{"id":"3567136329417120","authorId":"3567136329417120","name":"Yc3","avatar":"https://static.tigerbbs.com/2c6fb3b8c918f8718ab8d5b1792e9f37","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3567136329417120","authorIdStr":"3567136329417120"},"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/352416329","repostId":2123528058,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3912065,"gmtCreate":1617015080873,"gmtModify":1680782168150,"authorId":3567136329417120,"author":{"id":3567136329417120,"idStr":"3567136329417120","authorId":3567136329417120,"name":"Yc3","avatar":"https://static.tigerbbs.com/2c6fb3b8c918f8718ab8d5b1792e9f37","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":352416329,"type":1,"supId":3909940,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"},{"id":3909940,"gmtCreate":1616993250547,"gmtModify":1680782137119,"authorId":3575927670533252,"author":{"id":3575927670533252,"idStr":"3575927670533252","authorId":3575927670533252,"name":"schsch","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":352416329,"type":1,"supId":0,"prevId":0,"content":"like and comment pls ‌[财迷] ‌","text":"like and comment pls ‌[财迷] ‌","html":"like and comment pls ‌[财迷] ‌"}],"langContent":"EN"},{"id":352439205,"gmtCreate":1616991698607,"gmtModify":1704800522075,"author":{"id":"3578134255896974","authorId":"3578134255896974","name":"kino318","avatar":"https://static.tigerbbs.com/e983f44b7853b7b8c10f1b3f6e19dc68","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3578134255896974","authorIdStr":"3578134255896974"},"htmlText":"Bubble start?","listText":"Bubble start?","text":"Bubble start?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/352439205","repostId":2123528058,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3909886,"gmtCreate":1616992770838,"gmtModify":1680782129028,"authorId":3567136329417120,"author":{"id":3567136329417120,"idStr":"3567136329417120","authorId":3567136329417120,"name":"Yc3","avatar":"https://static.tigerbbs.com/2c6fb3b8c918f8718ab8d5b1792e9f37","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":352439205,"type":1,"supId":0,"prevId":0,"content":"I thinj so","text":"I thinj so","html":"I thinj so"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":32,"commentSize":9,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2123528058"}