Why Sellers Dominate in Shanghai Imported Copper Market? SMM Reports

Published: Aug 1, 2017 12:18

Save

Yangshan copper premiums have been climbing steadily as sellers take the upper hand in Shanghai imported copper market, SMM found.

SHANGHAI, Aug. 1 (SMM) –Yangshan copper premiums have been climbing steadily as sellers take the upper hand in Shanghai imported copper market, SMM found.

Operating Rate to Fall Further at China Major Copper Wire & Cable Producers in August, SMM Expects

Contango on the LME remains high around $ 10/tonne. High yields from bank financing products could cover some capital costs for holding goods on hand. Hence, traders are under no pressure to sell, SMM explained.

Besides, overwhelming bullishness over premium outlook also leaves traders unwilling to sell.

Premiums of warrant goods in spot market have exceeded those under term contracts since two weeks ago. If the SHFE/LME copper price ratio turns favorable, Yangshan copper premiums will probably break through $ 80/tonne this week, SMM estimates.

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

Yangshan copper premiums

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

2 hours ago

Data: SHFE, DCE market movement (Jun 03)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 03 Jun , 2026

2 hours ago

Konkola Copper Mines (KCM)'s Nchanga Smelter Began a 60-Day Production Shutdown for Maintenance

Konkola Copper Mines (KCM), a subsidiary of Vedanta Resources, announced on Tuesday the official commencement of a planned 60-day maintenance shutdown of the Nchanga smelter in Zambia, with production expected to resume in August 2026. The maintenance aims to enhance equipment reliability and long-term efficiency. During the shutdown, KCM will ensure continued production at the SX-EW Tailings Leach Plant (TLP) through external acid procurement and its own 500 mt/day acid plant. According to SMM, the Nchanga smelter currently has a smelting capacity of approximately 150,000 mt/year and plans to reach 300,000 mt/year by 2030.

2 hours ago

3 hours ago

Huanghe Company Saikun ESS Power Station Put into Operation

The 50 MW/100 megawatt hour Saikun ESS power station, supporting Huanghe Company's 500,000 kW Mangya wind power project in Haixi Prefecture, was officially connected to grid and put into operation, marking the on-schedule achievement of the construction and commissioning target for the company's first energy storage project deployed in Haixi Prefecture.

3 hours ago