Copper Inventories in Domestic Bonded Zones Add 5,100 mt from December 23

Published: Dec 30, 2022 17:36

Source: SMM

Save

As of December 30, copper inventories in the domestic bonded zone rose 5,100 mt from December 23, according to SMM survey.

SHANGHAI, Dec 30 (SMM) - As of December 30, copper inventories in the domestic bonded zone rose 5,100 mt from December 23, according to SMM survey. The bonded zone inventory in Guangdong fell 600 mt WoW, which was contributed by the normal customs clearance, while that in Shanghai grew 5,700 mt WoW. At the end of the year, domestic spot trading was sluggish. Besides, the import losses expanded to around 600-700 yuan/mt, which failed to encourage the customs declaration. Moreover, some traders converted the bill of lading arriving at ports into warrants, pushing up the inventory. The import market trading was sluggish as the LME market only got three trading days this week and the Hong Kong market suspended trading on December 26 and December 27, so shipments flowing output of the bonded zone warehouses decreased. In the follow-up, the market needs to pay attention to the warehouse operations of goods arriving at ports after some COVID-19-infected port workers return to work.

Inventory

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

10 hours ago

"Premier Li Qiang Leads State Council Meeting on Enhancing Effective Investment, Boosting Economic Growth"

Premier Li Qiang presided over an executive meeting of the State Council to study policy measures for promoting effective investment. The meeting noted that promoting effective investment plays an important role in stabilizing economic growth and strengthening momentum for development. It is necessary to innovate and improve policy measures, and intensify efforts to enhance the efficiency of utilizing funds such as central budget investments, ultra-long-term special treasury bonds, local government special bonds, and new-type policy-based financial instruments. In conjunction with formulating and implementing the 15th Five-Year Plan

10 hours ago

"Guided by Xi Jinping Thought, Implement 20th CPC Congress Spirit, Apply New Development Philosophy...

Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the plenary sessions of the Party’s 20th Central Committee, fully and faithfully apply the new development philosophy, strengthen top-level design, build computing power interconnection nodes oriented toward national hub periods, major strategic regions, and key industries, establish a system of computing power interconnection nodes, improve the efficiency and service level of public computing power resources, and promote high-quality development of computing power.

10 hours ago

11 hours ago

Indirect Iran-US Nuclear Talks in Muscat Show Progress, Omani FM Mediates Tense but Efficient Discussions

After intensive indirect consultations, the new round of nuclear talks between Iran and the US in Muscat, the capital of Oman, has achieved phased progress. It is reported that during this round of talks, the Iranian and US delegations did not meet directly. Instead, Omani Foreign Minister Badr acted as an intermediary, conveying a series of core proposals, strategic concerns, and policy positions to the other side. The atmosphere at the talks was tense yet efficient. According to preliminary on-site assessments, although both sides continue to negotiate over specific terms, they have reached a consensus on the key objective of "continuing dialogue."

11 hours ago