Copper – premium copper sells well and macro data better than expected

Date 3/14/2018 4:57:28 PM Source: SHMET

Premiums for CIF in Shanghai stood at $65-$83, while that for shanghai bonded warehouse flatted at $70-$85. LME C-3m valued was $29.75C. SHFE Spot/LME 3M arb stayed steadily at around 7.52, with a spot import gain of RMB 423/mt, whilst 3M SHFE/LME arb may have a loss of about RMB 312/mt, with ratio of 7.43.

Premium copper and flat copper consumption in spot market is better, while SX-EW copper are slow to sell because there is too much supply in the market. Today’s macro data shows that fixed asset investment and industrial added value in January and February are better than expected, and the commodity house inventroy continues to decrease at the same time.Traders make regular 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