SHANGHAI, Jul 28 (SMM) - Yangshan copper premiums were quoted at $81-97/mt under warrants today. The average price was flat from the previous trading day. Quotes under B/L stood at $76-91/mt. The average price was flat from the previous trading day, with the quotation period of August. The quotation refers to the prices of goods arriving at ports in the first half of August. Discounts of LME 0-3 were $9.75/mt, and the import losses were about 80 yuan/mt over the 2208 copper contract.
The market activity was weaker today, and the transactions were sluggish. Domestic spot premiums were weakened, and spot import profits dropped by nearly 200 yuan/mt. Offers from the traders were limited and high, and the inquiries were also scarce amid the narrow spot profits. The transactions were in a stalemate.
The premiums of high-quality pyro-copper were around $97/mt under warrants, and mainstream pyro-copper and hydro-copper were quoted at $90/mt and $81/mt respectively. The high-quality copper under the bill of lading was quoted at $91/mt, and that of mainstream pyro-copper and hydro-copper were $85/mt and $76/mt respectively.