Imported Copper Market in Shanghai Bonded Zone Was Subdued amid Closed Import Profit Window, But Traders Held Offers Firmly

SHANGHAI, May 18 (SMM) - Yangshan copper premiums were $62-84/mt under warrants today, with the average flat from yesterday, and were $49-70/mt under B/L, with the average also stable, both with QP in June. Import losses were around 500 yuan/mt against the SHFE 2206 copper contract.  

With the import window closed, the market trading was sluggish. There were much more offers than inquiries from buyers. Sellers held offers firmly due to expectation of the recovery of logistics, while buyers do not accept current premiums, thus few deals were heard.