SHANGHAI, Sep 17 (SMM) – Copper inventories in domestic bonded zones decreased 24,800 mt from September 10 to 280,500 mt as of September 17, according to SMM survey.
Inventory in the Shanghai bonded zone decreased 22,300 mt to 250,500 mt, and inventory in the Guangdong bonded zone fell 2,500 mt to 30,000 mt.
The speed of the inventory decline has slowed down. Due to the impact of the typhoon at the beginning of the week, the Shanghai bonded warehouses suspended their inbound and outbound operations. After operations resumed, bonded zone inventories continued to fall as the recent spot import profits were still prompting traders to make customs declarations.