Shanghai copper premium at 17-month high on VAT cut on imports

Copper price premiums in Shanghai rose to a 17-month high with market participants hoping for declining import costs following a cut in value-added tax (VAT), market sources told Metal Bulletin on Wednesday April 4.

On Wednesday, the premium for copper cathodes on a cif basis rose by $3 to $78 per tonne, the highest level since October 31, 2016, according to Metal Bulletin assessments.
The adjustment came after multiple spot deals for ER cathodes and SX EW cathodes were captured at per-tonne prices in the low $80s and high $70s, respectively.

The...

Published

Julian Luk

April 04, 2018

20:35 GMT

London