April 28 SMM Yangshan Copper Premium Express: foreign trade transactions continue to remain light

April 28, 2020: today's warehouse receipt quoted US $84-94 / ton, bill of lading quoted US $80-90 / ton, QP June. LME0-3 discount of $26 / ton, import losses narrowed to around 0.

Transactions in the foreign trade market continued to remain light today. The market quotation is concentrated in the arrival bill of lading in the middle and late May, and the holder's willingness to offer is not reduced, mainly due to the uncertain arrival of the goods due to unstable shipping schedule and the recent increase in the transportation cost of LME copper inventory. The quotation for the second brand bill of lading is about US $95 / ton. On the demand side, market enquiries are slightly weaker today, with high quotations suppressing buyer demand. Warehouse receipt transactions also showed a stalemate.

The transaction price of fire good copper warehouse bill is about 94 US dollars / ton, mainstream fire method 90 US dollars / ton, wet method 84 US dollars / ton, good copper bill of lading 90 US dollars / ton, mainstream fire 85 US dollars / ton, wet 80 US dollars / ton.

(SMM Zhu Ruoxing)