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Pandemic Prevention and Control still Affected Transactions in the Import Market of Copper
Apr 26, 2022 13:39CST
Source:SMM
Yangshan copper premiums stood at $13-35/mt under warrants today. The average price was $24/mt, flat from the previous trading day.

SHANGHAI, Apr 26 (SMM) - Yangshan copper premiums stood at $13-35/mt under warrants today. The average price was $24/mt, flat from the previous trading day. Quotes under B/L stood at $12-32/mt. The average price was $22/mt, flat from the previous trading day, with the quotation period of May. The quotation refers to the prices of goods arriving at ports in early May. The premiums of LME 0-3 were $14.8/mt. The import losses were around 650 yuan/mt over the 2205 copper contract.

The transactions in the import market were still affected by the pandemic prevention and control. According to SMM research, arrivals and deliveries are allowed in compliance with the pandemic prevention and control plan. Goods can be picked up at C. Steinweg Yangshan warehouse, while delivery cannot proceed in Waigaoqiao warehouse in Pudong district due to the strict pandemic prevention and control measures.  Some importers indicated that they have not purchased imported copper recently. According to the survey today, the price ratio was improved slightly, but the imports were still at losses due to the pandemic prevention and control.   Quotes of TG-JG were $25/mt under warrants, while quotes of Xiangguang Copper were more than $30/mt under warrants, with the quotation period of May. The purchase remained poor in the market.

The high-quality pyro-copper premiums were around $35/mt under warrants, and mainstream pyro-copper and hydro-copper were quoted at $25/mt and $13/mt respectively. The high-quality copper under the bill of lading was quoted at $32/mt, and that of mainstream pyro-copper and hydro-copper were $24/mt and $12/mt respectively.




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The above representation and data is based on market information SMM believes to be reliable at the time of acquiring as well as the comprehensive assessment by SMM research team, and any and all information provided in this article is for reference only. This article does not constitute a direct recommendation for investment or any decisions in any form and clients shall act on their own discreet and any decisions made by clients are not within the responsibility of SMM.

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