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Copper prices in the overseas market rebounded slightly due to the macro policies in China, lowering the price ratio. Therefore, the market transaction became slack amid the closed import window. According to the research today, in terms of warrants, the market saw few offers and inquiries. In the early trading, traders mainly held a wait-and-see attitude and stopped offering quotes as the price ratio was low. Besides, according to some traders, they are waiting for the logistics in Shanghai to be resumed in June, so there is no transaction in the market for the time being. On the bill of lading front, in early trading, standard-quality copper was traded at $65/mt, and the market saw almost no transactions.
At present, the high-quality pyro-copper premiums were around $84/mt under warrants, and mainstream pyro-copper and hydro-copper were quoted at $78/mt and $62/mt respectively. The high-quality copper under the bill of lading was quoted at $70/mt, and that of mainstream pyro-copper and hydro-copper were $65/mt and $49/mt respectively.
Disclaimer:
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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