April 26 Shanghai copper spot market KuaiBao

Quotes of import premiums for warrants stood at $10-$30/mt today. The average price was $20/mt under warrants, which is stable compared with the last trading day.

Hundreds of workers working in Mount Polley copper concentrate near Williams Lake in Columbia, Britain are being recalled.

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.

Shanghai base metals mostly trended lower on Tuesday morning after US dollar rallied significantly. Meanwhile, their counterparts on LME performed similarly.

Shanghai nonferrous metals mostly closed in the positive territory as the market was cheered up by the macro front, as China released its December official manufacturing and non-manufacturing PMI readings, which topped market expectation.

Shanghai base metals basically trended lower amid a cautious market which expected the Fed to wrap up the bond purchasing program early than estimate. Meanwhile, their counterparts on LME mostly closed in the positive zone.

Shanghai base metals basically trended higher on Friday morning. Meanwhile, their counterparts on LME trended mixed.

China’s copper cathode output stood at 825,900 mt in November, up 4.6% month on month and 0.5% year on year

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.

As of Friday October 15, the copper inventory in the mainstream Chinese market fell 7,200 mt from Monday October 11 to 105,200 mt. The decrease was mainly contributed by Guangdong, Shanghai and Jiangsu, whose inventory fell 5,200 mt, 4,300 mt and 800 mt to 9,300 mt, 75,700 mt and 12,500 mt, respectively.