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Copper Inventory in China Bonded Zone Dropped by 2,000 mt on Week
Jul 22, 2022 16:18CST
Source:SMM
Copper inventories in domestic bonded zones decreased by 2,000 mt from last Friday July 15 to 276,300 mt as of Friday July 22, according to the SMM survey.

SHANGHAI, Jul 22 (SMM) - Copper inventories in domestic bonded zones decreased by 2,000 mt from last Friday July 15 to 276,300 mt as of Friday July 22, according to the SMM survey. The bonded zone inventory has dropped for four consecutive weeks, but the speed was significantly slowed down. The inventory in Shanghai bonded zone stood unchanged at 249,500 mt WoW, while that in Guangdong dropped by 2,000 mt to 26,800 mt. Recently, the trading in the import market was poor. The import losses fluctuated around 350 yuan/mt over the SHFE 2208 copper contract this week, which could not offer solid support to the exports. Besides, the shipments of warrants out of the warehouses were limited, and the arrival of imported copper was flowing into the bonded warehouses one after another, hence the inventory this week dropped only slightly.

Inventory

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