Online inquiry data from the General Administration of Customs showed that China's exports of copper cathode in June reached 79,008 mt, more than doubling MoM, but still falling short of the level in the same period last year. In June, due to the off-season for domestic demand, there was pressure on SHFE copper prices. However, LME copper inventories had declined significantly earlier, and LME copper continued to outperform SHFE copper, keeping the export window open and giving smelters strong momentum for exports.
Source: General Administration of Customs
