Domestic Bonded Copper Inventories Decline Sharply, Driven by Large-Scale Imports

Publicado: Sep 20, 2024 16:59
According to SMM research, domestic bonded copper inventories fell by 5,600 tonnes from the previous week (September 12) to 61,700 tonnes on Thursday (September 19). Among them, bonded copper inventories in Shanghai decreased by 5,600 tonnes from the previous week to 59,000 tonnes, while those in Guangdong remained unchanged. The continuous reduction in bonded warehouse inventories this week was mainly due to the favorable import price parity in the early stage, which led to the import of a large number of electrolytic copper into the domestic market, resulting in a decline in bonded warehouse inventories. Looking ahead, as most of the bills of lading arrived at the port were directly imported, and warehouse receipts still had a trend of continuous inflow into the domestic market, it was expected that bonded warehouse inventories would continue to decline.

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According to SMM research, domestic bonded copper inventories fell by - Shanghai Metals Market (SMM)