Copper inventories in the domestic bonded zones grew

As of Thursday March 28, copper inventories in the domestic bonded zones grew 2,500 mt from March 21 to 59,800 mt, according to the latest SMM survey. Copper inventories in the Shanghai bonded zone added 2,700 mt to 56,100 mt, and inventories in the Guangdong bonded zone dipped 200 mt to 3,700 mt. The shipments of cargoes from domestic smelters to the bonded areas have been reflected in the inventory. In April, there are still smelters that continue to transport cargoes to bonded warehouses. Spot discounts against the SHFE April copper contract can hardly improve. The import window for imported cargoes against spot copper in Shanghai will remain close. The inventory in domestic bonded zones will continue to accumulate.