Chinese copper's share of available LME stocks falls to 42% in July
The share of available Chinese-origin copper stocks in London Metal Exchange warehouses dropped to 42% in July from 59% a month earlier, exchange data showed on Friday, as overall available inventories nearly halved. Total available copper stocks in LME warehouses fell to 101,425 metric tons at the end of July, the lowest level since January, from 201,700 tons at the end of June, as metal…
In July, the share of Chinese-origin copper stocks in London Metal Exchange warehouses fell to 42%, down from 59% a month earlier, according to exchange data released on Friday. This decline came as overall available copper inventories nearly halved, reaching a low of 101,425 metric tons by the end of July, compared to 201,700 tons at the end of June. The dwindling supplies were attributed to metal flowing towards the U.S. in anticipation of potential import tariffs, which were depleting inventories.
Chinese copper stock levels plummeted by 75,600 tons, dropping to 43,050 tons, a decrease that was more significant compared to stocks from other major suppliers like Chile, Zambia, and the Democratic Republic of Congo. Meanwhile, Russian-origin aluminium stocks in LME warehouses remained steady at 95%, after a minor reduction. However, total available aluminium inventories saw a slight decline of 0.5%, settling at 245,250 tons, the lowest figure since April 2025.
Russian aluminium stocks decreased by 1,225 tons to 232,800 tons, while Indian material, the sole other available origin, saw a minor drop of 125 tons to 12,450 tons.
Despite the sanctions, many traders are avoiding Russian aluminium, even though pre-April 13, 2024, material remains eligible for trading. The share of Chinese-origin nickel remained constant at 70% of available LME stocks at month-end.
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