Copper-SHMET Import Market Briefing 20170811

Date 8/11/2017 4:11:19 PM Source: SHMET
Premiums for CIF Shanghai remain steadily at $60-$70 levels while that for shanghai bonded warehouse around $65-$75, slowly backing to stabilization. LME C-3m valued yesterday was 29C. SHFE Spot/LME 3M arb dipped slightly to 7.87, indicating an import loss of RMB 400/mt, whilst 3M SHFE/LME arb may bring a deeper loss, about RMB710/mt, with ratio at 7.86. Spot import volume keeps low as the downstream prefers purchasing copper stored domestically and import volume stays low. Majority of the Physical warrants traded are older than three months in the warehouses, with premiums quoted strong and that for good copper even higher. Only a slightly potential downward trend could be expected for actual-trading premium.

Edited by SHMET