Copper inventory in the domestic bonded zones decreased

As of Friday October 13, copper inventory in the domestic bonded zones decreased 7,500 mt from September 28 to 31,500 mt, according to the latest SMM survey. Copper inventories in the Shanghai bonded zone fell 6,700 mt to 31,500 mt. Before the holidays, the import window remained open, and there were shipments from bonded zone inventories after the holidays. Arriving shipments were also low due to the open import window. Visible LME copper inventory continued to increase to the 180,000 mt mark after the Chinese holidays, weighing on LME copper prices. Import profit opportunities have increased, pushing the Yangshan copper premiums to rise rapidly. Bonded inventories will continue to fall.