Overcapacity of copper reflects sluggishness of China economy

By Stephen Wang

China, the world’s second-largest economy behind the U.S is a key driver in the global economic expansion. China has been such a huge driver of growth and so negative for growth over the last year or two.

According to related data, the copper inventory in warehouses of Shanghai Futures Exchange reached around 330,000 tons this month, the highest level since 2020. This level reached last time was in 2015.

This reflects the manufacturers are reducing to purchase this industrial metal drastically dut to soaring copper prices and insufficient consumer demand.

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