Flash: Copper spot premiums in Shanghai

The copper inventories in domestic bonded zones rose 19,500 mt from Friday February 25 to 320,100 mt as of March 4, according to SMM survey.

Today, the spot prices of all series of stainless steel products in Foshan stood flat today. The average price of the 300 series product was around 18,000 yuan/mt. The market received a large number of goods last week, while the demand failed to keep up. The downstream users continued to purchase on rigid demand after the prices rebounded slightly yesterday.

Spot premiums rose above 2,000 yuan/mt amid falling social inventory and the suspension of customs tariffs, and premiums in south and north China followed suit.

Shanghai nonferrous metals mostly closed with gains as the market was boosted by the new of loosening house loans.

This is a roundup of China's metals weekly inventory as of November 5.

Shanghai base metals all went down in the overnight trading on Wednesday after the Fed announced to start the tapering of asset purchase in late November, while the stock decline supported the prices.

This is a news roundup for the overseas copper market last week.

The falling prices of coal and other energy sources have dragged down the metals prices across the board. The SS 2112 contract fell to 18,375 yuan/mt this morning and stabilised to stand at 19,005 yuan/mt at noon.

This is a news roundup for the overseas copper industry.

Shanghai nonferrous metals mostly closed in the positive territory as the market has been increasingly worried about the inflation.