Copper Inventory in Domestic Bonded Zone Up 7,800 mt

SHANGHAI, Mar 18 (SMM) - Copper inventories in the domestic bonded zones increased 7,800 mt from March 11 to 331,400 mt as of Friday March 18, according to the most recent SMM survey. Inventory in the Shanghai bonded zone increased 5,800 mt to 293,500 mt, and inventory in the Guangdong bonded zone increased 2,000 mt to 37,900 mt. The SHFE/LME price ratio deteriorated again this week, and the import losses over 2204 contract expanded to about 1,400 yuan/mt. With the import window closed, the demand for customs declaration in the market was sluggish, and transaction in the import market was limited. Goods at ports flowed into the bonded zone continuously, so the bonded zone inventory continued to rise.