Copper Inventory in China Bonded Area Dipped 5,700 mt

Published: Dec 3, 2021 17:16

Source: SMM

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The copper inventories in the domestic bonded zones dipped 5,700 mt from November 26 to 183,500 mt as of Friday December 3, the eighth consecutive week of decline, according to the most recent SMM survey.

SHANGHAI, Dec 3 (SMM) – The copper inventories in the domestic bonded zones dipped 5,700 mt from November 26 to 183,500 mt as of Friday December 3, the eighth consecutive week of decline, according to the most recent SMM survey.

The inventory in the Shanghai bonded zone decreased 4,700 mt to 169,600 mt, and the inventory in the Guangdong bonded zone fell 1,000 mt to 13,900 mt. There were inflows of cargoes under warrants which were imported when the SHFE/LME copper price ratio was profitable. The arriving shipments decreased. Meanwhile, it has been difficult for some ships to call at ports due to the strengthening of the customs' quarantine work on inbound ships. And the port work efficiency was low. As such, the bonded zone inventories continued to decline.

copper inventory

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