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
Oct.16
46915.0
-70.0
(-0.15%)
Standard-Grade Copper
Oct.16
46905.0
-75.0
(-0.16%)
High-Grade Copper
Oct.16
46925.0
-65.0
(-0.14%)
Guixi copper
Oct.16
46930.0
-65.0
(-0.14%)
Low-quality copper
Oct.16
46875.0
-60.0
(-0.13%)

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.