Spot Premiums Plummet as Downstream Bargain Down Purchasing Prices Amid Large Weekend Arrivals [SMM South China Spot Copper]
게시됨: Jan 13, 2025 11:30
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SMM, January 13: Today, spot premiums for #1 copper cathode in Guangdong against the front-month contract were quoted at 300-350 yuan/mt, with an average premium of 325 yuan/mt, down by 235 yuan/mt from the previous trading day. Spot premiums for hydro copper were quoted at 180-220 yuan/mt, with an average premium of 200 yuan/mt, down by 90 yuan/mt from the previous trading day. The average price of #1 copper cathode in Guangdong was 75,725 yuan/mt, down by 30 yuan/mt from the previous trading day, while the average price of hydro copper was 75,600 yuan/mt, up by 115 yuan/mt from the previous trading day.
Spot market: After the weekend, Guangdong inventory saw a significant increase, mainly due to higher arrivals and reduced outflows from warehouses. Following the sharp inventory increase, downstream buyers actively bargained down purchasing prices, forcing suppliers to lower prices for sales, leading to a steep drop in spot premiums. Additionally, as hydro copper had already been sold at lower prices last week, its decline today was limited, and the price spread between hydro copper and standard-quality copper narrowed significantly, returning to normal levels. As of 11:00 am, spot premiums for high-quality copper against the front-month contract were quoted at 350 yuan/mt, standard-quality copper at 300 yuan/mt, and hydro copper at 200 yuan/mt.
Overall, large arrivals over the weekend and downstream price bargaining caused a steep drop in spot premiums.
데이터 출처 설명: 공개 정보를 제외한 모든 데이터는 SMM이 공개 정보, 시장 커뮤니케이션 및 SMM 내부 데이터베이스 모델을 기반으로 가공한 것입니다. 본 자료는 참고용이며 의사결정 권고를 구성하지 않습니다.
Spot Premiums Plummet as Downstream Bargain Down Purchasing Prices Amid Large Weekend Arrivals [SMM South China Spot Copper] - Shanghai Metals Market (SMM)