SHANGHAI, May 13 (SMM) - According to SMM research, copper inventories in the domestic bonded zone dipped 2,100 mt from May 6 to 327,000 mt on May 13. Inventory in the Shanghai bonded zone dropped 2,800 mt to 290,000 mt, and inventory in the Guangdong bonded zone rose 700 mt to 37,000 mt. SMM expects the inventory will drop further due to the huge import profits. In addition, according to the SMM survey, the inventory that was previously piled up at ports due to the pandemic has been greatly decreased.
The above representation and data is based on market information SMM believes to be reliable at the time of acquiring as well as the comprehensive assessment by SMM research team, and any and all information provided in this article is for reference only. This article does not constitute a direct recommendation for investment or any decisions in any form and clients shall act on their own discreet and any decisions made by clients are not within the responsibility of SMM.
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