SHANGHAI, Jul. 22 (SMM) – Spot premiums for imported copper to China are set for a slight rise in the near term, SMM research team predicts.
The Yangshan copper premiums, published by SMM, were $55-70 per tonne in the week of July 13-17.
“Although the price ratio between Shanghai and London markets is improving, bank control over L/C issuance will limit supply of imported copper in Chinese market, which may allow the premiums on imported goods to increase, but feeble demand means the increase will be marginal,” SMM analyst notes.
On July 15, the SHFE 1509 copper/LME copper price ratio was 7.26.
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