SHANGHAI, Oct 29 (SMM) – The copper inventories in domestic bonded zones decreased 3,900 mt from October 22 to 233,300 mt as of October 29, falling for three consecutive weeks, according to SMM survey.
The inventory in the Shanghai bonded zone decreased 3,400 mt to 209,800 mt, and the inventory in the Guangdong bonded zone fell 500 mt to 23,500 mt.
During the week, the spot premiums in Shanghai remained high. Some traders continued to move the bonded zone inventories into the domestic market. This, combined with the stable shipments, drove continued declines and the bonded zone inventories.
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