SHANGHAI, Dec 6 (SMM) - Yangshan copper premiums were quoted at $65-80/mt under warrants today, and the average premium was flat from the previous trading day, with the quotation period of December. Quotes for the bill of lading stood at $50-75/mt, and the average premium dipped $2.5/mt from the previous trading day, with the quotation period of January. The quotation refers to the prices of goods arriving at ports in December. Discounts of LME cash to 3M contract were $42.5/mt, and the import losses were about 700 yuan/mt over the SHFE 2212 copper contract.
On December 6, the contango structure of the LME contract spread widened, and the import losses over the SHFE 2212 copper narrowed to 700 yuan/mt. But the market demand was still relatively weak, and the quotes were lowered. The market witnessed the hydro-copper being traded at the price of $50/mt.
The premiums of high-quality pyro-copper were around $80/mt under warrants, and mainstream pyro-copper and hydro-copper were quoted at $75/mt and $65/mt respectively. The high-quality copper under the bill of lading was quoted at $75/mt, and that of mainstream pyro-copper and hydro-copper were $65/mt and $50/mt respectively