Chinese warehouses facing largest copper glut in four years, putting pressure on manufacturers

From Financial Times: 2024-06-19 02:13:09

Chinese warehouses are facing the biggest glut of copper in four years due to a spike in prices and weak consumer demand. The stockpiles in Shanghai Futures Exchange have reached 330,000 tonnes, the highest since 2020. Analysts warn that the excess metal cannot be consumed, putting pressure on wire and cable manufacturers. This highlights the fragile state of China’s industrial sector.
(Source: https://www.ft.com/content/a5fc14c0-3100-48da-8fb4-3e3a1d2ea098)



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