SHANGHAI, May 20 (SMM) - Copper inventories in domestic bonded zone decreased by 12,300 mt to 309,700 mt from May 13 to May 20, according to SMM survey. Inventory in the Shanghai bonded zone decreased 5,700 mt to 284,300 mt, and inventory in the Guangdong bonded zone dropped 6,600 mt to 30,400 mt. Importers, who locked in the prices when the import was profitable, continued to transport the goods in bonded zones to China this week, causing the inventory of bonded zones in Shanghai and Guangdong to decline. In addition, it is known that there are still many traders who are waiting to pick up goods in bonded warehouses in Shanghai, so the inventory is expected to drop further.
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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.
