China's Bonded Copper Inventories Rise by 1,800 Tonnes This Week

Publicado: Nov 8, 2024 16:51
According to SMM's research, domestic bonded copper inventories in China increased by 1,800 tonnes this Thursday (November 7) compared to the previous week (October 31), reaching 59,900 tonnes. Specifically, bonded inventories in Shanghai rose by 2,000 tonnes to 56,100 tonnes, while those in Guangdong decreased by 200 tonnes to 3,800 tonnes. The continuous increase in bonded inventory this week is mainly attributed to limited willingness of downstream buyers to receive goods and holders' reluctance to sell at lower prices, prompting them to store the supplies in bonded warehouses. Looking ahead, as import price parity improves and downstream procurement demand increases, it is expected that the amount of electrolytic copper arriving at ports and entering bonded warehouses will decline subsequently.

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According to SMM's research, domestic bonded copper inventories in Chi - Shanghai Metals Market (SMM)