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Copper - SHMET Import Market Briefing

Date 11/14/2017 5:40:00 PM Source: SHMET

Premiums for CIF Shanghai stood at $65-$80while that for shanghai bonded warehouse flatted at $70-$82, a continuing component of previous re-stabilization. LME C-3m valued was $34.25C. SHFE Spot/LME 3M arb stayed steadily at around 7.85, with an import loss of RMB11/mt, whilst 3M SHFE/LME arb may lose RMB475/mt, with ratio of 7.87.

Copper surges sharply and the main increase of positions will be in July, August and September next year. The spot market has been more cautious, with the market demand for buying showing no positive confidence for the time being. Cargo holders insist on selling with a high premium, but with fewer quotations as the current orders are still not improved. The downstream enterprises generally maintain the purchase with a rigid demand. The buying enthusiasm is starting to fade, with traders waiting for another month to operate. The market is not active, with transactions having no apparent increase.

Edited by SHMET