SMM, June 6: Today, the SHFE/LME price ratio collapsed, with the LME copper 3M contract trading at a discount of approximately 1,600 yuan/mt to the SHFE copper 2506 contract. The LME copper 3M-Jun was in backwardation of $80.91/mt, and the spread between the June date and July date swap fees widened to approximately $31/mt backwardation. On the same day, the spot premium for imported copper fell sharply. Today, the SMM Yangshan copper premiums (warrant) were reported at $35 to $47/mt, with a QP in June, and the average price dropped by $38/mt compared to the previous trading day. The Yangshan copper premiums (B/L) were reported at $50 to $80/mt, with a QP in July, and the average price dropped by $33/mt compared to the previous trading day. The EQ copper (CIF B/L) premiums ranged from $8/mt to $20/mt, with a QP in July, and the average price dropped by $32/mt compared to the previous trading day. According to SMM, major domestic smelters are currently arranging for exports, and it is expected that the offshore spot premiums will continue to face downward pressure in the short term.