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May 20th SMM Yashan Copper Premium Express: import profit window closes Foreign Trade Market transaction stalemate
May 20,2020 13:45CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

May 20, 2020: today's warehouse receipt is quoted at US $105mur122 / ton, and the bill of lading is quoted at US $955,110 / ton, QP June. The LME0-3 discount is US $28.50 per ton. The import loss is around 150 yuan / ton.

Today, the overall turnover in the market is light, and the activity of both buyers and sellers is relatively low. The price comparison has not yet been opened, and most traders still choose to wait and see and do not quote the bill of lading arriving in Hong Kong in mid-late June. There are a small number of holders who have lowered their quotations slightly. However, the buyer is expected to have room for price reduction, the price of the buying and selling order is difficult to match, and the transaction performance is deadlocked. There is basically no offer for warehouse receipts, and there are a small number of high-priced transactions. In addition, according to SMM research, copper imports are concentrated in Hong Kong in the next two weeks, which is expected to put some pressure on the domestic trade market.

At present, the transaction price of good copper warehouse receipt is around $122 / ton, mainstream fire method is $115 / ton, wet method is $105 / ton, good copper bill of lading is $110 / ton, mainstream fire bill of lading is $105 / ton, wet method is $95 / ton.

(SMM Zhu Ruoyi)

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