SMM expects that copper inventories in Shanghai and Guangdong bonded zones will continue to fall next week but the decline will slow down further.
Traders locked in profits previously when the import window opened, resulting in a continuous increase in shipments from bonded zone inventories. Shipments of seaborne copper from bonded zone inventories are expected to slow down in the near term due to import losses and the sluggish China' quotes in domestic spot market.
Meanwhile, arriving shipments under bill of lading have been growing recently. A few traders stored cargoes into the Zhejiang bonded warehouse due to subsidies in Ningbo.
