Comments

Copper – copper prices rebound, with long and short competing with each other

Date 2/14/2018 11:55:18 AM Source: SHMET

Premiums for CIF Shanghai stood at $60-$80while that for shanghai bonded warehouse flatted at $70-$85, a continuing component of previous re-stabilization. LME C-3m valued was $43.25C. SHFE Spot/LME 3M arb stayed steadily at around 7.54, with a spot import loss of RMB 712/mt, whilst 3M SHFE/LME arb may have a profit of RMB 108/mt, with ratio of 7.41.

Copper prices continue to rebound and the willingness of fund to drive prices is obvious. There is a slight willingness to reduce position in the short side. Long and Short are competing before the holiday. Traders make general inquiries in the copper imports market and the market transaction is relatively stable due to a micro balance of the import window. 

Edited by SHMET