July 21 SMM Yangshan Copper Premium Express: foreign Trade Market demand is very weak Yangshan Copper Premium continues to decline

July 21, 2020: today's warehouse receipt quotation is 90mur102 US dollars / ton, the average price is 2 US dollars / ton lower than the previous day; the bill of lading quotation is 77mur90 US dollars / ton, the average price is 2.50 US dollars / ton lower than the previous day, QP August. LME0-3 has a premium of US $6.75 / ton and an import loss of around 350RMB / ton.

Trading in the imported copper market remained light today. Import price ratio to maintain a large loss, a direct blow to market demand. The price-up sentiment of the sellers has eased somewhat, and some traders have lowered their quotations. At present, the mainstream fire price is about US $87 / ton at the end of July, while the wet bill of lading price has slipped to less than US $80 / ton. However, the buying power is weak, most of the performance is to stop and wait and see, a small amount of counter-offer price is very low, there is still a large psychological expected price gap between buyers and sellers, the overall transaction performance is light, and a small number of low-price shipments still drive the premium down.

At present, the transaction price of fire good copper warehouse receipt is around US $102 / ton, mainstream fire method is US $97 / ton, wet method is 90 yuan / ton, good copper bill of lading is US $90 / ton, mainstream fire bill of lading is US $85 / ton, and wet method is US $77 / ton.

(SMM Zhu Ruoyi)