SMM Tells Why Deadlock Persists in Shanghai Imported Copper Market-Shanghai Metals Market

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SMM Tells Why Deadlock Persists in Shanghai Imported Copper Market

SMM Insight 01:20:26PM Jul 18, 2017 Source:SMM

SHANGHAI, Jul. 18 (SMM) – The deadlock continued between sellers and buyers in Shanghai bonded zone copper market last week, with wait-and-see sentiment still strong, SMM learned.

On the one hand, contango on the LME narrowed to around $ 6/tonne, bringing some pressure to sellers. However, no heavy selloffs were reported since many traders expect contango to return to around $ 10/tonne.   

Is CSPT’s Floor Price for Q3 Copper Concentrate Spot TCs Simply Symbolic? SMM Reports

On the other hand, high premiums for warrant goods, the off-season and unfavorable SHFE/LME copper price ratio dampened buying interest. 

As of July 14, Yangshan copper premiums were $ 62-72/tonne, SMM data showed. 

SMM expects wait-and-see sentiment to still prevail this week. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.
 

Price

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#1 Refined Cu
Sep.20
47395.0
-65.0
(-0.14%)
Standard-Grade Copper
Sep.20
47380.0
-70.0
(-0.15%)
High-Grade Copper
Sep.20
47415.0
-55.0
(-0.12%)
Guixi copper
Sep.20
47425.0
-55.0
(-0.12%)
Low-quality copper
Sep.20
47330.0
-85.0
(-0.18%)

SMM Tells Why Deadlock Persists in Shanghai Imported Copper Market

SMM Insight 01:20:26PM Jul 18, 2017 Source:SMM

SHANGHAI, Jul. 18 (SMM) – The deadlock continued between sellers and buyers in Shanghai bonded zone copper market last week, with wait-and-see sentiment still strong, SMM learned.

On the one hand, contango on the LME narrowed to around $ 6/tonne, bringing some pressure to sellers. However, no heavy selloffs were reported since many traders expect contango to return to around $ 10/tonne.   

Is CSPT’s Floor Price for Q3 Copper Concentrate Spot TCs Simply Symbolic? SMM Reports

On the other hand, high premiums for warrant goods, the off-season and unfavorable SHFE/LME copper price ratio dampened buying interest. 

As of July 14, Yangshan copper premiums were $ 62-72/tonne, SMM data showed. 

SMM expects wait-and-see sentiment to still prevail this week. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.