Expectations of restocking by traders drive up spot copper premiums

Published: Sep 17, 2019 14:19

Save

Spot sellers added premiums to 120-160 yuan/mt, against the SHFE front-month Oct contract at noon of Tuesday

SHANGHAI, Sep 17 (SMM) – Spot copper sellers firmed up premiums in Shanghai on the morning of Tuesday September 17 on limited arrivals in the market and expectations of restocking demand by traders.

As Shanghai copper fell to levels around 47,300 yuan/mt, spot sellers added premiums to 120-160 yuan/mt, against the SHFE front-month October contract. This compared with a premium of 70-120 yuan/mt over the SHFE September contract on the last trading day of the contract on Monday September 16.

Premiums of standard-quality copper moved lower from earlier trades this morning, to 120 yuan/mt at noon of Tuesday, but premiums of high-grade copper stuck between 150-160 yuan/mt. Hydro-copper traded at a premium of 90 yuan/mt, with no cheap cargoes available.

On Tuesday September 17, the SHFE October contract extended overnight losses and ended the morning trading session at 47,350 yuan/mt, down 0.65% from that time on Monday September 16.

At noon on Tuesday, high-grade copper traded at 47,500-47,540 yuan/mt and standard-quality copper traded at 47,470-47,520 yuan/mt.

Market commentary Futures movement Spot copper

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

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

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

Related News

35 mins ago

Copper Faces Short-Term Surplus but Long-Term Deficit Outlook

The copper market is increasingly split between short-term surplus and long-term deficit expectations. Rising inventories and weak demand are weighing on prices now, but electrification trends still support a bullish long-term outlook, signaling a shift from scarcity-driven trading to fundamentals-driven correction.

35 mins ago

36 mins ago

Copper Pricing Disconnect Emerges Between Financial Flows and Fundamentals

Copper prices surged earlier in 2026 amid strong speculative inflows and rising futures positioning. However, physical demand has lagged, and inventories continue to build, creating a growing disconnect between financial pricing and real market fundamentals.

36 mins ago

1 hour ago

Jiangxi Copper Successfully Ignites Furnace for Full-Chain Solid Waste Utilization Project

At 10 a.m. on March 28, the side-blown furnace of Jiangxi Jiangtong Tongxin Environmental Protection Resource Comprehensive Utilization and Environmental Protection Equipment Manufacturing Phase II Project was successfully ignited, marking the full commissioning of Jiangxi Copper Group’s first full-chain project for solid waste resource utilization and environmental protection equipment manufacturing.

1 hour ago