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Copper - SHMET Import Market Briefing 20170913

Date 9/13/2017 6:18:04 PM Source: SHMET

Premiums for CIF Shanghai stood at $50-$65 while that for shanghai bonded warehouse flatted at $60-$70, a continuing component of previous re-stabilization. LME C-3m valued was $40.75C. SHFE Spot/LME 3M arb stayed steadily at around 7.75, with an import loss of RMB461/mt, whilst 3M SHFE/LME arb may lose RMB742/mt, with ratio 7.69.

LME inventory increased greatly by 10,300 tons, with the market may having subsequent delivery to the warehouse. The price is falling under pressure and the range in premium quotation is expanding, with B/L quoting at around US$50 occasionally and the warehouse receipt maintaining at US$60.

Report by SHMET