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Home / Metal News / Copper transactions weaken on higher premiums

Copper transactions weaken on higher premiums

iconApr 19, 2018 15:43
Source:SMM
Spot copper in the Shanghai market was offered at a premium of 270-350 yuan/mt over the SHFE 1805 contract on Thursday April 19. This compared with a premium of 260-330 yuan/mt in the previous day

SHANGHAI, Apr 19 (SMM) – Spot copper in the Shanghai market was offered at a premium of 270-350 yuan/mt over the SHFE 1805 contract on Thursday April 19. This compared with a premium of 260-330 yuan/mt in the previous day.

Sellers raised offers to a premium of 350 yuan/mt in the morning as SHFE copper gained nearly 1,000 yuan/mt overnight. However, premiums were lowered to 260-300 yuan/mt at noon as sellers were keen to destock amid sluggish transactions. Due to higher offers, premiums of higher-grade copper dipped faster than those of standard-quality copper. Transactions of hydro-copper were slower from the previous two days as demand was weak. Its premiums dropped from 250-260 yuan/mt to around 220 yuan/mt at noon.

At noon, higher-grade copper mostly traded at 51,800-51,920 yuan/mt and standard-quality copper traded at 51,780-51,900 yuan/mt.

 

For editorial queries, please contact Daisy Tseng at daisy@smm.cn 
For more information on how to access our research reports, please email service.en@smm.cn 

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

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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

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