SHANGHAI, Aug 5 (SMM) - Copper inventories in domestic bonded zones decreased by 16,800 mt from last Friday July 29 to 249,300 mt as of August 5, according to the SMM survey. Inventory in the Shanghai bonded zone dropped by 18,800 mt to 222,900 mt, and inventory in the Guangdong bonded zone rose by 2,000 mt to 26,400 mt. Last week, spot imports remained highly profitable, and importers moved the goods in bonded warehouses to China, thus the inventory decreased. However, with the drop in domestic premiums this week, the demand for customs declaration fell. SMM expects that the inventory will decline slowly next week.
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