May 29th SMM Yangshan Copper Premium Express: weak Import Copper transactions buyers are in a wait-and-see mood

May 29, 2020: today's warehouse receipt is quoted at US $92mur102 / ton, which remains the same as the previous day; the bill of lading is quoted at US $78mur88 / ton, with an average price of US $1.50 / ton lower than the previous day, QP June. The LME0-3 discount is US $27 per ton. The import loss is around 170 yuan / ton.

Turnover in the foreign trade market is very light today, with relatively few market quotations and enquiries. The import window continues to close, and the demand in the foreign trade market has been difficult to improve for a long time. In late June, the supply of incoming bills of lading continued to flow out, and some traders were in a strong mood of shipping and lowered their quotations again. At present, the offer price of the second brand bill of lading is generally about 90 US dollars / ton, but the buyer still expects the premium to be further reduced, and the recipient is cold. Due to the shortage of goods, the price of warehouse receipt is relatively stable. On the whole, trading in the imported copper market continues to be deserted today.

At present, the transaction price of fire good copper warehouse receipt is around 102 US dollars / ton, mainstream fire method 97 US dollars / ton, wet method 92 US dollars / ton; good copper bill of lading 88 US dollars / ton, mainstream fire 84 US dollars / ton, wet method 77 US dollars / ton.

(SMM Zhu Ruoyi)