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SMM Yangshan Copper Premium Express report on July 23rd: LME back structure rapidly expands Yangshan Copper Premium continues to bear pressure
Jul 23,2020 13:52CST
translation
Source:SMM
July 23, 2020: today's warehouse receipt quotation is 88mur98 US dollars / ton, the average price is 2 US dollars / ton lower than the previous day; the bill of lading quotation is 73mur85 US dollars / ton, the average price is 2 US dollars / ton lower than the previous day, QP August. LME0-3 raised water by US $17 / ton, and the import loss was around 400 yuan / ton.
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July 23, 2020: today's warehouse receipt quotation is 88mur98 US dollars / ton, the average price is 2 US dollars / ton lower than the previous day; the bill of lading quotation is 73mur85 US dollars / ton, the average price is 2 US dollars / ton lower than the previous day, QP August. LME0-3 raised water by US $17 / ton, and the import loss was around 400 yuan / ton.

Today, import losses have expanded again, the foreign trade market has almost fallen into a state of silence, market quotations and enquiries have relatively decreased, and turnover is very light. For the bill of lading arriving in Hong Kong at the end of July and early August, the market will to accept the goods is very low. at present, the transaction price of the second-card bill of lading has fallen to about US $85 / ton, the mainstream fire method has dropped to about US $80 / ton, and a few counter-offers are even lower. Warehouse receipt quotation has also been slightly reduced, but there is no transaction. Judging from the recent performance of the foreign trade market, affected by the price comparison, the demand in the foreign trade market has weakened obviously, and the transaction price has been declining all the way. LME back structure rapidly expanded to 17 US dollars / ton, more heavy holder change pressure, which is not conducive to the premium upward.

At present, the transaction price of good copper warehouse receipt is around 98 US dollars / ton, 94 US dollars / ton by mainstream fire method, 88 yuan / ton by wet method, 85 US dollars / ton by good copper bill of lading, 80 US dollars / ton by mainstream fire method and 73 US dollars / ton by wet method.

(SMM Zhu Ruoyi)

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