Copper Inventory in China Bonded Zone Dropped by 7,400 mt on Week

SHANGHAI, Jun 10 (SMM) - Copper inventories in domestic bonded zones decreased by 7,400 mt from last Thursday June 2 to 287,400 mt as of June 10, according to SMM survey. The inventory in Shanghai bonded zone decreased by 7,500 mt to 257,800 mt, while that in Guangdong added 100 mt to 29,600 mt. The price ratio was favourable for imports this week, and some warrants were declared and imported into China, resulting in a further decline in the bonded zone inventory. In addition, the efficiency of pick-up at bonded warehouses continued to improve. The market should pay attention to the flowing of cancelled warrants of LME Asia warehouses into China, which may end the decline in bonded zone inventory.