Copper Inventory in Domestic Bonded Zone Grew 18,600 mt on Week

SHANGHAI, Jan 28 –The copper inventories in domestic bonded zones increased 18,600 mt from January 21 to 243,100 mt as of January 28, growing for five consecutive weeks, according to SMM survey.

The inventory in the Shanghai bonded zone increased 16,600 mt to 213,600 mt, and the inventory in the Guangdong bonded zone added 2,000 mt to 29,500 mt.

With the approaching of CNY holidays, the copper import market is extremely quiet. The high import losses depressed the customs declaration and imports. Meanwhile, the transportation efficiency of warehouses decreased, hence slowing down the shipments from bonded warehouses.

In terms of arriving shipments, the inflows of shipments arrivals under B/L and the exports by the domestic smelters accelerated the growth in the bonded zone inventories.