SHANGHAI, Oct 22 (SMM) - Copper inventories in the domestic bonded zones decreased 8,300 mt from October 15 to 237,200 mt as of Friday October 22, according to the most recent SMM survey.
Inventory in the Shanghai bonded zone decreased 8,300 mt to 213,200 mt, and inventory in the Guangdong bonded zone remained unchanged at 24,000 mt.
During the week, the spot premiums in Shanghai remained high. Some traders who had locked up the price in the early stage moved the bonded zone inventories into the domestic market. Meanwhile, the overall shipments arrivals remained low, resulting in continued declines in the bonded zone inventories.