Copper Inventory in China Bonded Zone Declined 8,100 mt on Week

SHANGHAI, Jul 15 (SMM) - Copper inventories in domestic bonded zones decreased by 8,100 mt from last Friday July 8 to 278,300 mt as of July 15, according to the SMM survey. The inventory in Shanghai bonded zone fell by 6,500 mt to 249,500 mt, and that in Guangdong dropped by 1,600 mt to 28,800 mt. When the import window opened in the past several weeks, copper cathode stored in the bonded warehouses was moved to the domestic market one after another and approaching the delivery of the 2207 contract, some imported goods were registered as warrants. In the past two weeks, the import window remained closed mostly, and the imported copper trading was slack. SMM expected that the decline in the bonded zone inventory will slow down, and the inventory may rise soon.