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May 6 SMM Yangshan copper premium express: after the festival import prices continue to open demand to promote Yangshan copper premium upward
May 6,2020 14:29CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

May 6, 2020: today's warehouse receipt quotation of US $90-100 / ton, bill of lading quotation of US $83-96 / ton, QP June. LME0-3 discount US $30.5 / ton, import profit in the vicinity of 100 yuan / ton.

On the first day after the festival, the import price ratio continued to open, and the activity of the foreign trade market was significantly higher than that before the festival. LME contango structure continues to expand, domestic maintenance of back structure, demand is still exuberant. Second card warehouse receipt quoted more than $100 high price is still closed. The holder showed his desire to sell because of the high import profit of the warehouse receipt. Most of the offers for bills of lading arrive in Hong Kong in late May. June price comparison opened, traders still have good expectations for the short-term market, two-card bill of lading offer of about US $100 / ton, the buyer actively received the goods, thus promoting the market transaction price to rise rapidly. Supply tensions in mid-to-early May are difficult to ease, and Yangshan copper premiums are expected to remain high in the short term.

The transaction price of fire good copper warehouse bill is about $100 / ton, mainstream fire method is $95 / ton, wet method is $90 / ton, good copper bill of lading is $96 / ton, mainstream fire method is $90 / ton, wet method is $83 / ton.

(SMM Zhu Ruoxing)

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