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April 8 SMM Yangshan copper premium express: imported copper cover goods cherish the sale of Yangshan copper premium high stalemate
Apr 8,2020 14:14CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

April 8, 2020: today's warehouse receipt quotation of US $7082 / ton, bill of lading quotation of US $68-US $80 / ton, QP May. LME0-3 discount of US $21.25 / ton, import loss of around 100 yuan / ton.

Import prices opened yesterday, Yangshan copper premium ushered in the biggest one-day increase after the festival. Today, the market transaction is relatively weak, on the one hand, the market supply is tight to cover the goods for sale, on the other hand, the price rises too quickly so that some buyers hesitate, the transaction has faded, but the price remains strong. Under the expectation of tax reduction, the domestic spot contract price is relatively strong, the overseas consumption pressure makes the spot contract weaker, the import price of electrolytic copper continues to perform better, the optimistic expectation of the foreign trade market still exists, the pressure of short-term price correction is small, and we can still continue to hold the goods, but the supply of goods to Hong Kong gradually increases in May. Once the tax reduction expectations fail, the market demand will fall back, and the premium will face the risk of falling back.

At present, the transaction price of good copper warehouse receipt is about 82 US dollars / ton, mainstream fire method 78 US dollars / ton, wet method 70 US dollars / ton, good copper bill of lading 80 US dollars / ton, mainstream fire 75 US dollars / ton, wet method 68 US dollars / ton.

(SMM Wei Xue)

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