Copper Inventory in Domestic Bonded Zone Up 17,150 mt from Monday

SHANGHAI, Feb 11 (SMM) – The copper inventories in domestic bonded zones rose 17,150 mt from Monday February 7 to 265,250 mt as of February 11, according to SMM survey.

The inventory in the Shanghai bonded zone rose 12,400 mt to 231,000 mt, while that in Guangdong added 4,750 mt to 34,250 mt on the week. 

The foreign trade market was extremely quiet as the import losses remained at around 1,000 yuan/mt in the first trading week post the CNY holiday. The cargos under B/L kept arriving at the ports, and the domestic smelters actively exported to bonded zones. The total inventories were still on the rise.