Limited availability continues to lift spot copper premiums

Published: Nov 18, 2019 13:49

Save

SHFE data showed that copper inventories shrank more than 13,000 mt on the week to 135,513 mt as of Nov 15

SHANGHAI, Nov 18 (SMM) – Premiums of spot copper remained at highs on the morning of November 18 in Shanghai as reduced copper inventories grew concerns about nearby tight supplies.

Data from the Shanghai Futures Exchange showed that copper inventories shrank more than 13,000 mt on the week to 135,513 mt as of Friday November 15.

At noon of Monday November 18, cargo holders raised premiums to 160 yuan/mt, over the SHFE December contract, for high-grade copper and to 140 yuan/mt for standard-quality copper, compared to premiums of 120-140 yuan/mt in early session.

Premiums of hydro-copper maintained at 70-90 yuan/mt at noon of November 18.

The SHFE December contract regained losses from last Friday night and ended the morning trading session on November 18 slightly higher at 46,950 yuan/mt.

At noon on November 18, high-grade copper traded at 46,960-47,100 yuan/mt and standard-quality copper traded at 46,950-47,080 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

Feb 6, 2026 23:56

"Premier Li Qiang Leads State Council Meeting on Enhancing Effective Investment, Boosting Economic Growth"

Premier Li Qiang presided over an executive meeting of the State Council to study policy measures for promoting effective investment. The meeting noted that promoting effective investment plays an important role in stabilizing economic growth and strengthening momentum for development. It is necessary to innovate and improve policy measures, and intensify efforts to enhance the efficiency of utilizing funds such as central budget investments, ultra-long-term special treasury bonds, local government special bonds, and new-type policy-based financial instruments. In conjunction with formulating and implementing the 15th Five-Year Plan

Feb 6, 2026 23:56

Feb 6, 2026 23:54

"Guided by Xi Jinping Thought, Implement 20th CPC Congress Spirit, Apply New Development Philosophy...

Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the plenary sessions of the Party’s 20th Central Committee, fully and faithfully apply the new development philosophy, strengthen top-level design, build computing power interconnection nodes oriented toward national hub periods, major strategic regions, and key industries, establish a system of computing power interconnection nodes, improve the efficiency and service level of public computing power resources, and promote high-quality development of computing power.

Feb 6, 2026 23:54

Feb 6, 2026 23:47

Indirect Iran-US Nuclear Talks in Muscat Show Progress, Omani FM Mediates Tense but Efficient Discussions

After intensive indirect consultations, the new round of nuclear talks between Iran and the US in Muscat, the capital of Oman, has achieved phased progress. It is reported that during this round of talks, the Iranian and US delegations did not meet directly. Instead, Omani Foreign Minister Badr acted as an intermediary, conveying a series of core proposals, strategic concerns, and policy positions to the other side. The atmosphere at the talks was tense yet efficient. According to preliminary on-site assessments, although both sides continue to negotiate over specific terms, they have reached a consensus on the key objective of "continuing dialogue."

Feb 6, 2026 23:47