SMM6 March 19: according to SMM research, copper inventory in Shanghai Free Trade Zone increased by 1300 tons to 217500 tons on Friday compared with last week. Inventory increased for the fourth consecutive week, but the increment decreased. Last week, import price difference superimposed domestic trade spot discount decline led to weak import demand, some traders reported the source of goods into the bonded warehouse, so the bonded area inventory further increased. However, due to the tight supply of domestic smelters and the slowdown of the inflow of imported copper, the social treasury has been accelerated, the spot discount has returned to a high level this week, the import price ratio has been opened again, and traders have stepped up customs declaration for imports, so the inventory growth rate in the bonded area this week is slower than that of last week.
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