Copper Inventory in Domestic Bonded Zone Up 20,850 mt on Week

SHANGHAI, Feb 18 (SMM) – The copper inventories in domestic bonded zones rose 20,850 mt from last Friday to 286,100 mt as of February 18, according to SMM survey.

The inventory in the Shanghai bonded zone rose 19,200 mt to 250,200 mt, while that in Guangdong added 1,650 mt to 35,900 mt on the week.

The foreign trade market was quiet recently, and the import losses were around 800 yuan/mt, hence the customs clearance demand was rare. The arrivals ports had to be stored in the bonded zone. Meanwhile, domestic smelters kept exporting copper cathode to the bonded zone as well. The bonded zone inventory rose.