Copper inventories in the domestic bonded zones dipped last week

As of Friday January 26, copper inventories in the domestic bonded zones dipped 100 mt from January 19 and stood at 10,000 mt, according to the latest SMM survey. Copper inventories in the Shanghai bonded zone added 100 mt to 8,600 mt, and inventories in the Guangdong bonded zone dipped 200 mt to 1,400 mt. The import window was closed at the end of the week, and that reduced shipments from bonded zone inventories. Some cargoes slated to arrive at the end of this month and early February will be entering the warehouses soon. However, facing the expensive costs during the CNY holidays, it is unlikely to see a significant increase in stock accumulation compared to the same period last year.