SMM Yangshan Copper Premium Express: import Copper transactions maintain Light LME current back structure

Published: Jul 6, 2020 13:51

July 6, 2020: today's warehouse receipt quotation is 85mur100 US dollars / ton, the average price is 5 US dollars / tonne lower than last Friday; the bill of lading quotation is 76mur87 US dollars / tonne, the average price is 2.50 US dollars / tonne lower than last Friday, QP August. LME0-3 has a premium of US $6.50 / ton and an import loss of around 300RMB / ton.

LME spot price gradually strengthened, has now changed to the back structure, the domestic back structure narrowed to less than 100 yuan / ton, the price continues to weaken, and the import loss has expanded again. Today, the demand in the foreign trade market is even lighter, and there are few enquiries. The number of offers from the holder is limited, and most of them maintain the offer last Friday, and the buyer's scruples are weaker than the price, and the domestic trade discount is at a low level. In the face of the current offer, it is prudent to wait and see, and the deal is deadlocked. The number of warehouse receipt offers is limited, and the transaction price has fallen all the way along with the deterioration of the relative price. at present, the transaction of second-card warehouse receipts is around 100 US dollars / ton. On the whole, the wait-and-see mood between buyers and sellers is strong, and the transaction is cold.

At present, the transaction price of fire good copper warehouse receipt is around US $100 / ton, mainstream fire method is US $95 / ton, wet method is 85 yuan / ton, good copper bill of lading is US $87 / ton, mainstream fire bill of lading is US $83 / ton, and wet method is US $76 / ton.

(SMM Zhu Ruoyi)

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SMM Yangshan Copper Premium Express: import Copper transactions maintain Light LME current back structure - Shanghai Metals Market (SMM)