GLOBAL COPPER WRAP: Shanghai premiums narrow upward amid smaller import loss; US market strengthens on tight supply, active buying

Copper premiums in Shanghai narrowed upward in the week ended Tuesday May 14 after smaller losses on importing the red metal into China stimulated spot buying activity.

Elsewhere, the US Midwest-delivered copper cathode premium moved up for the first time since March 26 on tight supply and active spot buying, while the European market was stifled by a lack of activity. Shanghai premiums narrowed upward on smaller import loss Less financing demand continues to dampen Shanghai market Southeast Asian premium widens downward amid soft demand Lack of buying appetite caps European premiums Increased spot trade boosts US copper premium Narrower import loss stimulates buying in Shanghai Copper premiums in Shanghai narrowed upward this past week after smaller losses on bringing the red metal into China led to an uptick in spot buying activity. Fastmarkets assessed the premium for grade A copper cathode at $40-60 per tonne cif Shanghai on May 14, narrowing upward by $4 per tonne from $36-60 per tonne on May 7. The premium for in-warehouse grade A copper cathode in Shanghai similarly...

Published

Ellie Wang

Hassan Butt

Rijuta Dey Bera

May 15, 2019

05:12 GMT

London, Shanghai, New York