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<Commodity>Copper Mkt Facing Worst Contraction in History; CN Copper Inventories May Be Depleted by Mid-Jun, Says Mercuria
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2025/04/29 06:58 CEST
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China's copper inventories are set to fall to zero within just a few months, a senior executive at major commodities trader Mercuria said, as quoted by the Financial Times.
Amid fears of new US tariffs, the copper market is experiencing one of the most severe supply squeezes in history, according to the report. With buyers rushing to secure copper out of concern that the Donald Trump administration may slap tariffs, Mercuria noted that immense demand from the US is drawing copper imports away from other parts of the world and has put it in direct competition with China for access to copper supplies.
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The report cited Nicholas Snowdon, Mercuria's Head of Metals and Mining Research, as saying that copper inventories in China have plummeted in recent weeks. At the current rate of decline, China's copper inventories could be completely depleted (to zero) by mid-June.