China's Bonded Copper Inventories Drop Sharply, Driven by Limited Arrivals and Anticipated Storage Withdrawals

게시됨: Oct 12, 2024 17:33
According to SMM research, domestic bonded copper inventories in China decreased by 2,100 tonnes on a week-on-week basis (from September 26) to 56,400 tonnes on Thursday (October 10). Among them, bonded inventories in Shanghai declined by 4,000 tonnes week-on-week to 51,500 tonnes, while bonded inventories in Guangdong increased by 1,900 tonnes week-on-week to 4,900 tonnes. This week, bonded inventory continued to decline, mainly due to the limited arrival volume. Looking ahead, as there were previously a large number of arrivals, some may flow into bonded warehouses. However, due to the significant monthly price spread, it is expected that the amount of electrolytic copper withdrawn from storage will increase. Overall, it is expected that inventories will remain at a low level.

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