Data released by the London Metal Exchange (LME) on Thursday indicates that the proportion of deliverable copper inventories of Chinese origin held in the exchange's warehouses advanced to 44% last month, up from 42% in the preceding period, coinciding with an expansion in total deliverable stock levels.

At the close of August, aggregate deliverable copper inventories across LME facilities grew to 111,175 metric tons, a rise from the 101,425 metric tons recorded at the end of July. This uptick followed a wave of investor activity focused on covering short positions, which drove a significant premium in near-dated copper prices and subsequently attracted additional metal into the exchange's network.

Deliverable copper stocks originating from China increased by 6,350 metric tons to reach 49,400 metric tons during the month. In parallel, aluminum supplies of Russian origin persisted in representing a substantial 95% share of the LME's deliverable aluminum inventory for the second consecutive month, even as overall volumes experienced a modest decline of 2,750 metric tons, settling at 230,050 metric tons.

Furthermore, the proportion of Chinese-produced nickel within the LME's deliverable nickel stockpiles remained unchanged at 70% as of the end of August.