SHFE STOCKS REPORT 22/05: Almost all inventories fall; copper stocks plunge 16%

Deliverable stocks of all base metals except lead in Shanghai Futures Exchange-approved warehouses fell in the week to Friday May 22.

SHFE copper stocks stood at 175,825 tonnes on Friday, down by 33,065 tonnes (15.8%) from 208,890 tonnes the previous week.
SIPG Logistics registered the largest outflow of copper stocks this week, with 11,440 tonnes leaving its sheds.

Silver outperformance driven by weak supply growth

Supply data still points to major silver deficit this year

Canada second most significant player in global mining M&A

Plenty of potential for continued rotation out of tech

Platinum to palladium ratio low, platinum to gold high, versus history