April 29 SMM Yangshan Copper Premium Express: foreign trade transactions continue to remain light

April 29, 2020: today's warehouse receipt quoted 85-95 US dollars / ton, bill of lading quoted 80-90 US dollars / ton, QP June. LME0-3 discount $28 / ton, import profit in the vicinity of $60 / ton.

Although the ratio of June to June improved further today, demand was lukewarm, and transactions in the foreign trade market were limited. In recent months, the goods are basically out, and the market offer is concentrated in the bill of lading arriving in Hong Kong in the middle and late May, and the traders have no intention of reducing the price. Buyers' enthusiasm for receiving goods is also limited. First, the rise and decline in the domestic trade market affects the market's price expectations after May Day. Second, some traders tightened their funds as a result of concentrated receipt of goods last week. Warehouse receipt prices remain high, with a small number of transactions and good copper at $95 per tonne. On the whole, the activity of the foreign trade market before the festival decreased, and the market transaction was still a high stalemate.

The transaction price of fire good copper warehouse bill is about 95 US dollars / ton, mainstream fire method 90 US dollars / ton, wet method 85 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)