Yangshan Copper Premium Declined In April Amid Extremely Thin Import Profits

SHANGHAI, May 15 (SMM) - Yangshan copper premiums averaged $27.89/mt under warrants in April, down $5.72/mt MoM, and $40.76/mt under bill of lading, up $2.59/mt MoM. In mid-to-late April, LME copper stocks kept growing. LME copper prices fell more sharply than SHFE copper prices amid escalated US banking crisis. Therefore, import losses eased, allowing the premiums of cargoes under B/L to rebound after initial drop.