Shanghai bonded copper stocks extended decline as arbitrage window widely opened

Published: Apr 17, 2020 16:19

Save

Stocks of copper across Shanghai bonded area fell sharply this week, as high spot premiums in domestic markets boosted the appeal of imported copper. SMM data showed that the stocks decreased 11,300 mt in the week ended April 17 to 316,000 mt, marking the fourth straight week of decline.

SHANGHAI, Apr 17 (SMM) – Stocks of copper across Shanghai bonded area fell sharply this week, as high spot premiums in domestic markets boosted the appeal of imported copper.

SMM data showed that the stocks decreased 11,300 mt in the week ended April 17 to 316,000 mt, marking the fourth straight week of decline. The stocks fell 6,500 mt in the previous week.

Yangshan copper premiums continued to rise this week, as demand for near-term seaborne copper under bills of lading increased while that for cargoes under warehouse warrants remained stable.

Inventory data 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

10 hours ago

Operating Rate of SMM Scrap-Derived Copper Anode Producers 58.81%

[SMM Copper Anode] After the holiday, scrap-derived copper anode producers in China had all resumed normal operations. From March 6 to March 12, the operating rate of SMM scrap-derived copper anode producers was 58.81%, up 10.43 percentage points MoM. As the price difference between primary metal and scrap narrowed and copper anode RCs remained high, the operating rate is expected to fall to 58.72% next week.

10 hours ago

12 hours ago

Yukun Materials' Phase II Recycled Copper Ingot Project Nears Completion, Aims for 100,000 Tons Annual Capacity

At the Phase II construction site of Yukun Materials Technology Co., Ltd.'s recycled copper ingot project, it can be seen that the main structure of the plant has been completed. The entire project is expected to be fully finished in the second quarter. With a total investment of 1.08 billion yuan for Phase II, the annual production capacity of recycled copper ingots is projected to reach 100,000 tons once it reaches full operation.

12 hours ago

This Week, the Operating Rate of the Enamelled Wire Industry Rebounded to 85.13%

Supported by ample earlier orders and full production schedules, the operating rate of the enamelled wire industry rose 4.06 percentage points WoW to 85.13% this week. According to enterprise feedback, new orders underperformed expectations this week. Affected by downstream wait-and-see sentiment amid falling prices, enterprises were relatively cautious in placing orders, and new orders increased by only 0.11 percentage points.

12 hours ago