Shanghai copper premiums weaken on lack of buying; inventories dropping

Copper premiums remained under pressure this week on low demand in the Shanghai market as buyers had mostly built sufficient stocks before the Chinese Labour Day holiday, though copper stocks have fallen on the Shanghai Futures Exchange.

Assessments and offers were quoted in the range of $55-80 per tonne on an in-warehouse basis in Shanghai on Wednesday May 6, as the range widened from Metal Bulletin sister publication Copper Price Briefing's assessment of $60-75 per tonne last Wednesday. Premiums for ocean cargoes were quoted in the same range on Wednesday, while cargoes with bills of lading...

Published

Kiki Kang

May 06, 2015

10:33 GMT

Shanghai