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Home / Metal News / Spot copper discounts narrow as futures prices climb

Spot copper discounts narrow as futures prices climb

iconMay 17, 2018 15:03
Source:SMM
Spot copper was mostly offered at a discount of 90-20 yuan/mt over the SHFE 1806 contract on Thursday May 17 in the Shanghai market. Discounts narrowed from 120-60 yuan/mt the previous day

SHANGHAI, May 17 (SMM) – Spot copper was mostly offered at a discount of 90-20 yuan/mt over the SHFE 1806 contract on Thursday May 17 in the Shanghai market. Discounts narrowed from 120-60 yuan/mt the previous day.

Sellers raised offers from Wednesday as the SHFE 1806 contract soared to a high of 51,070 yuan/mt this morning.

Buyers favoured high-quality copper and this narrowed discounts some 10 yuan/mt to 20 yuan/mt in the second trading session. Trading of standard-quality copper picked up as offers dipped 10 yuan/mt to a discount of 90 yuan/mt near noon. Offers for hydro-copper remained at a discount of 160-120 yuan/mt, given ample supplies and limited trading.

At noon, higher-grade copper mostly traded at 50,930-50,990 yuan/mt and standard-quality copper traded at 50,900-50,940 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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