Yangshan Copper Premiums to be High in Apr

SHANGHAI, Apr 13 (SMM) - In April, the copper cathode consumption growth slows down unexpectedly. Copper cathode output loss caused by smelters' maintenance is expected to decrease. On the other hand, the import customs clearance volume will also increase MoM. Accordingly, the SHFE/LME copper price ratio can hardly grow sharply. The import losses will also be limited by the eased supply tightness overseas with the end of the Chuquicamata smelter’s overhaul and the slight appreciation of the RMB. SMM presumes that the Yangshan copper premiums will barely surge in April but may remain high.