Flash: Copper spot premiums in Shanghai

The copper cathode inventory in Guangdong has fallen below the 10,000 mt mark, and stand at only 6,527 mt, the lowest since 2018, according to our SMM statistics.

The SMM average price of 8-12% high-grade NPI stood at 1,502.5 yuan/mtu (ex-works, including tax) as of Friday October 22, up 57.5 yuan/mtu from a week earlier, and the average price of Indonesian NPI stood at 1,497.5 yuan/mtu (including tax, delivery to ports), 55 yuan/mtu higher than a week earlier.

Yangshan copper premiums with a quotation period in September stood at $42-67/mt under warrants during August 2-6, and between $35-64/mt under bill of lading (B/L). The SHFE/LME copper price ratio stood at 7.34 as of August 6.

Spot copper in the Shanghai market was trading at discounts of 220-180 yuan/mt on the morning of Tuesday January 30, SMM learned.

Flash: Copper spot premiums in Shanghai

SMM Evening Comments (Jan 23)

Flash: Copper spot premiums in Shanghai

SMM Morning Comments (Jan 19)

Flash: Copper spot premiums in Shanghai

SMM Evening Comments (Jan 17)