Copper Inventories in Domestic Bonded Zones Dipped 18,900 mt from Last Friday

SHANGHAI, Aug 26 (SMM) - Copper inventories in domestic bonded zones decreased 18,900 mt from last Friday August 19 to 175,100 mt as of August 26, according to the SMM survey. The inventory declined for nine consecutive weeks, and the decline slowed down this week. Inventory in the Shanghai bonded zone dipped 16,500 mt to 154,300 mt, and inventory in the Guangdong bonded zone fell 2,400 mt to 20,800 mt. Goods locked in the SHFE/LME price ratio at a time when the import window opened were shipped from the warehouses one after another. In Guangdong, the quantity of goods arriving at ports was limited. In addition, social inventory in China keeps hitting a record low, and the domestic spot premiums trended higher, attracting goods stored in bonded warehouses.