Copper stocks in domestic bonded warehouses increased

According to an SMM survey, as of Thursday (June 13), copper stocks in domestic bonded warehouses increased by 2,000 mt WoW (June 6) to 92,600 mt. Shanghai bonded warehouse stocks increased by 1,200 mt to 86,200 mt; Guangdong bonded warehouse stocks increased by 800 mt WoW to 6,400 mt. The increase in bonded warehouse stocks was mainly due to weak market demand and low willingness of downstream customers to take delivery, resulting in newly arrived goods being put into bonded warehouses. The planned exports of copper cathode from domestic major smelters in June will gradually arrive at bonded warehouses, and bonded warehouse stocks are expected to continue to increase.