Spot copper sellers firmed up offers after declines in futures prices

Published: Apr 16, 2020 15:05

Save

Sellers of spot copper cathode in Shanghai showed continued willingness to firm up offers on the morning of Thursday April 16 even as transactions showed no signs of improvement after copper futures declined.

SHANGHAI, Apr 16 (SMM) – Sellers of spot copper cathode in Shanghai showed continued willingness to firm up offers on the morning of Thursday April 16 even as transactions showed no signs of improvement after copper futures declined.

Premiums of high-grade copper climbed to as high as 200 yuan/mt on Tuesday morning, before tepid purchases weighed the premiums to 180-190 yuan/mt at noon. For standard-quality copper, premiums slipped from 180 yuan/mt to 170 yuan/mt during the same period.

Offers of hydro-copper were adjusted to premiums of 140-150 yuan/mt as of noon on Thursday.

High premiums sidelined traders and downstream consumers, but sellers seemed to show little inclination to significantly mark down prices.

The SHFE May copper contract edged lower to beneath 41,600 yuan/mt, ending the morning trading hours 0.26% lower on the day at 41,570 yuan/mt.

As of noon on April 16, trades of high-grade copper occurred at 41,730-41,830 yuan/mt with standard-quality copper trading at 41,720-41,810 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

19 hours ago

Tax-Inclusive Procurement Costs for Copper Scrap Rose, and "Reverse Invoicing" Became a Key Compliance Pathway

Looking back at 2025, as the transitional implementation year for the "reverse invoicing" policy, the National Development and Reform Commission's "Document No. 770" explicitly required the termination of local governments' non-compliant investment promotion cooperation. Under the policy guidance of building a unified national market, the copper scrap industry has been gradually moving toward a standardized and compliant development track.

19 hours ago

Mar 28, 2026 11:05

CMOC: 2025 Net Profit up 50.3% YoY, Copper Production at 741,100 mt; Niobium, Cobalt, Molybdenum, and Tungsten Output Exceeded Expectations

Mar 28, 2026 11:05

Mar 27, 2026 17:05

INE to Expand Tradable Options for Qualified Foreign Investors, Adding TSR 20 Rubber and Copper Contracts

According to an announcement by the Shanghai International Energy Exchange, with the approval of the China Securities Regulatory Commission, effective April 22, 2026 (from the night continuous trading session on April 21), the Shanghai International Energy Exchange (hereinafter referred to as INE) will further expand the range of tradable products available to Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors (collectively, Qualified Foreign Investors), with the newly added commodity options contracts open for trading as follows: TSR 20 rubber and international copper options contracts.

Mar 27, 2026 17:05