As of Friday April 14, copper inventories in the domestic bonded zones decreased 7,300 mt from April 7 to 155,800 mt, according to the latest SMM survey.
Inventory in the Guangdong bonded zone added 1,300 mt to 13,200 mt, while inventory in the Shanghai bonded zone dropped 6,000 mt to 142,600 mt.
During the week, the declines in bonded zone inventories slowed down due to import losses, decreased shipments under warrants against low premiums in the domestic spot market as well as limited customs clearance.
Some domestic brands of copper under warrants in LME warehouses have been cancelled recently, and will gradually flow into China. Given the current import losses, the decline in copper inventories in China’s bonded zones is expected to slow down further.


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