SMM: It is expected that domestic copper imports will continue to grow in June

On June 29, SMM predicted that domestic copper imports will continue to grow in June. The canceled warehouse receipts from LME Asian warehouses will arrive in China at the end of June, early July and mid-July, with a total volume of about 30,000 tons.

In addition, as of June 27, the LME cancellation ratio has risen to about 60%, registered warehouse receipts have dropped to 30,000 tons, which is at an extremely low level, and spot premiums have risen to $30/ton. The canceled supply is still expected to continue to flow into the country.