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Copper – Premium for electrolytic copper is higher, with shanghai ER copper B/L being more popular

Date 4/16/2018 5:41:09 PM Source: SHMET

Premiums for CIF in Shanghai stood at $65-$85, while that for shanghai bonded warehouse flatted at $70-$85. LME C-3m valued was $33.5C. SHFE Spot/LME 3M arb stayed steadily at around 7.41, with a spot import gain of RMB277/mt, whilst 3M SHFE/LME arb may have a loss of about RMB 37 /mt, with ratio of 7.43.

Offer for popular CIF ER copper in the market is at around $83/ton, with actual trading price being negotiable when the buying amount is large. The premium for cargoes of delivery a week before arriving at the port is higher, arriving at the port on around 20th, May and the Qp is in June. Generally, the delivery is mainly the delivery three days before arriving at the port. The ER warrants in shanghai bonded warehouse are reluctant to sell out, with few offer and premium being continuously high. 

Edited by SHMET