Copper inventories in the domestic bonded zones decreased

Copper inventories in the domestic bonded zones decreased 1,200 mt from April 30 to 81,200 mt as of Thursday May 9, according to the latest SMM survey. Copper inventories in the Shanghai bonded zone dropped 1,800 mt to 76,000 mt, and inventories in the Guangdong bonded zone grew 600 mt to 5,200 mt. Bonded inventory declined slightly due to concentrated deliveries of cargoes after the Labour Day holiday, growing shipments from bonded zone inventories. The exported cargoes by smelters will be delivered to the Shanghai International Energy Exchange (INE). As the import window has not yet been opened, it is expected that bonded inventory will still increase.