Copper inventories in the domestic bonded zone decreased this week

According to an SMM survey, as of Thursday (June 6), copper inventories in the domestic bonded zone decreased by 2,600 mt from May 30 to 90,600 mt. Shanghai bonded inventories decreased by 2,500 mt to 85,000 mt; Guangdong bonded inventories decreased by 100 mt to 5,600 mt. The decrease in bonded warehouse inventories was mainly due to the opening of the export window earlier. The copper cathode arranged for export by domestic mainstream smelters in June will enter the bonded zone in batches, and bonded warehouse inventories are expected to grow.