Yangshan copper premiums climb on rising demand -Shanghai Metals Market

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Yangshan copper premiums climb on rising demand

Price Review & Forecast 03:12:21PM Apr 20, 2018 Source:SMM

SHANGHAI, Apr 20 (SMM) – Yangshan copper premiums have continued to climb since the start of 2018, staying at levels higher than the benchmark of $75/mt for the most part.

Offers with warehouse warrants were heard offered above $90/mt, SMM learned.

This is because a tighter copper scrap supply has boosted consumption of imported copper cathode, as the import arbitrage window was open for a longer period, SMM believes.

In addition, sellers were able to keep their offers high against the backdrop of a steep LME contango. Tighter credit situation this year in China also helped as market participants continued to use imported copper for financing.  

 


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

Key Words:  Yangshan copper 

Price

more
#1 Refined Cu
Oct.18
46740.0
40.0
(0.09%)
Standard-Grade Copper
Oct.18
46730.0
40.0
(0.09%)
High-Grade Copper
Oct.18
46750.0
45.0
(0.10%)
Guixi copper
Oct.18
46750.0
40.0
(0.09%)
Low-quality copper
Oct.18
46700.0
45.0
(0.10%)

Yangshan copper premiums climb on rising demand

Price Review & Forecast 03:12:21PM Apr 20, 2018 Source:SMM

SHANGHAI, Apr 20 (SMM) – Yangshan copper premiums have continued to climb since the start of 2018, staying at levels higher than the benchmark of $75/mt for the most part.

Offers with warehouse warrants were heard offered above $90/mt, SMM learned.

This is because a tighter copper scrap supply has boosted consumption of imported copper cathode, as the import arbitrage window was open for a longer period, SMM believes.

In addition, sellers were able to keep their offers high against the backdrop of a steep LME contango. Tighter credit situation this year in China also helped as market participants continued to use imported copper for financing.  

 


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

Key Words:  Yangshan copper