SHANGHAI, Jan 6 (SMM) - As of January 6, 2023, copper inventories in domestic bonded zones rose 2,800 mt from December 30, 2022, according to SMM survey. Bonded zone inventory in Guangdong dipped 200 mt， which was contributed by the low arrivals of goods at ports, while that in Shanghai grew 3,000 mt from December 30, 2022. In the first trading week of 2023, the import losses hovered around 300-600 yuan/mt, which failed to boost the customs declaration. In addition, due to the high costs of warehousing and financing, some goods arriving at ports were planned to be shipped to the market under the bill of lading at low prices, resulting in a decline in inventory growth in bonded zones. As the Chinese New Year is approaching, imported market trading has become sluggish. SMM believes that the bonded zone inventories will grow further in the near future.
