SHANGHAI, Jul. 24 (SMM) –Yangshan copper premiums rose last week and trading activity turned slightly active, SMM learned.
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Contango on the LME expanded to above $ 30/tonne, leaving traders in no hurry to sell. This tightened supply slightly, allowing traders to ask for higher premiums. market turned relatively optimistic over copper consumption in H2 2017.
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SMM Yangshan copper premiums increased $ 5/tonne week-on-week to $ 63-77/tonne in the week ending July 21.
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