LME Copper Cancellation Warehouse Receipts Have Dropped 12 Times, Resulting in An Overall Decline in Copper Inventory

The latest data released by the London Metal Exchange (LME) shows that LME copper cancellation warehouse receipts are showing a continuous downward trend, currently dropping to 17200 tons for twelve consecutive weeks, and the proportion of cancellations has also declined to 16.02%. At the same time, there has been relatively little change in the registered warehouse receipt, hovering around 90000 tons or more, with the latest data being 90150 tons. In the past month, LME copper inventory has shown an overall downward trend, and the downward trend is relatively smooth. The latest inventory has dropped to 107350 tons.