SHANGHAI, Jul. 24 (SMM) –Yangshan copper premiums rose last week and trading activity turned slightly active, SMM learned.
Contango on the LME expanded to above $ 30/tonne, leaving traders in no hurry to sell. This tightened supply slightly, allowing traders to ask for higher premiums. market turned relatively optimistic over copper consumption in H2 2017.
SMM Yangshan copper premiums increased $ 5/tonne week-on-week to $ 63-77/tonne in the week ending July 21.
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