SHANGHAI, Jun. 16 (SMM) - Yangshan copper premiums rose to $50 per tonne on Jun. 15, according to Shanghai Metals Market data.
“Narrowing of import losses from higher import ratio pushed up Yangshan copper premiums,” SMM copper analyst said.
On Jun. 14, the SHFE/LME copper price ratio increased to around 7.78, narrowing import losses to 100-200 yuan per tonne.
“If imported copper inflows into China’s domestic market, declines in copper inventories will stop and rise in stead, and the condition of SHFE copper stronger than LME copper will likely turn round,” SMM added.
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