Data from the London Metal Exchange (LME) showed that LME copper inventories fluctuated within a range last week, with relatively small overall changes, and the latest inventory level was 155,800 mt.
The latest data from the Shanghai Futures Exchange indicated that SHFE copper inventories continued to rebound in the week of August 15, increasing by 5.4% to 86,361 mt, reaching a new high in one and a half months. International copper inventories increased by 123 mt to 10,967 mt.
Last week, NY copper inventories continued to accumulate, with the latest inventory level at 267,195 mt, reaching a new high since late January 2004.
Note: Generally, a continuous decline in domestic and overseas exchange inventories will support futures prices, while an increase will be bearish for futures prices.
Comparison of Copper Inventories Among the Three Major Exchanges Since 2023
The following are the copper inventory data from the three major exchanges since August 2025: (Unit: mt)
