April 9, 2020: today's warehouse receipt quotation of US $73-85 / ton, bill of lading quotation of US $70-82 / ton, QP May. LME0-3 discount of US $24.3 / ton, import loss of around 100 yuan / ton.
The market transaction situation is slightly warmer than yesterday, but the overall situation is light. On the one hand, the number of incoming bills of lading has been digested quickly in recent months. Due to the good import price comparison and the expectation of tax reduction, the seller still has confidence in the spot price, the willingness to raise the price does not decrease, and the quotation continues to rise. On the other hand, the buyer's enthusiasm for inquiry has improved, and the whole is still afraid of waiting to see. At present, the overall foreign trade market is optimistic, and there is a small upward space for prices in the short term. LME copper inventory increased by more than 43000 tons yesterday, foreign contango structure expanded, compared with the domestic spot price is strong, the price comparison is still possible. It is expected that the pressure on overseas inventories will be released to the mainland in the later stage, and the supply of goods to Hong Kong will increase further in May. At that time, the easing of supply and demand tensions may push down the premium.
At present, the transaction price of good copper warehouse receipt is about 85 US dollars / ton, mainstream fire method 80 US dollars / ton, wet method 73 US dollars / ton, good copper bill of lading 82 US dollars / ton, mainstream fire 78 US dollars / ton, wet method 70 US dollars / ton.
(SMM Wei Xue)