Yangshan Copper Premiums Rebounded as Import Profit Window Remains Open

Published: May 11, 2022 13:34

Source: SMM

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SHANGHAI, May 11 (SMM) - Premiums of imported copper under warrants in Shanghai bonded zone were $55-85/mt today, with the average premiums up $5/mt from yesterday to $70/mt, while premiums of cargoes under bill of lading were $45-70/mt, with the average premiums up $2.5/mt to $57.5/mt, with QP in June.
As the SHFE/LME copper price ratio went up, import profit window remains open both based on spot cargoes and against the SHFE 2205 copper contract. Traders held offers firmly amid rising SHFE/LME copper price ratio and spot premiums in the domestic market. However, trades were thin as buyers found current premiums hard to accept.

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