Get started

SHFE vs LME arbitrage: copper, aluminium, zinc

Arbitrage for copper, aluminium and zinc imported into China*

August 6, 2014
By Generic people page
Base metals Copper

Arbitrage for copper, aluminium and zinc imported into China*

Copper
Three-month: -$116(-713 yuan)
Cash:- $144(-887yuan)

Zinc
Three-month: $5(29 yuan)
Cash: -$27 (-163 yuan)

Aluminium
Three-month: -$55 (-341 yuan)
Cash: -$65 (-401 yuan)

*The arbitrage numbers are calculated daily by Metal Bulletin using SHFE and LME prices at 3pm Shanghai time, taking account of VAT and import duties (where applicable) and exchange rates at the time of comparison. For details of physical premiums in Shanghai, and other Asian locations, please see Metal Bulletin price book.”

editorial@metalbulletinasia.com

What to read next
Delayed publication of European aluminium billet premiums, inferred prices: pricing notice
The publication of Fastmarkets’ European aluminium billet premiums assessments for Friday February 6 was delayed because of a procedural error. Fastmarkets’ pricing database has been updated.
February 6, 2026
 · 
By Fastmarkets pricing team
Glencore offices in Switzerland. Credit: David Taljat / Getty Images Plus
Rio Tinto-Glencore merger collapse triggers 8.9% drop in Glencore shares
Glencore’s share price fell sharply on Thursday February 5 after Rio Tinto confirmed it was no longer pursuing a potential merger, ending weeks of speculation about a combination that would have created one of the world’s largest mining companies.
February 6, 2026
 · 
By Julienne Raboca
Proposal to launch three new Chinese copper scrap grades, increase frequency
The proposal to increase the publication frequency from monthly to weekly comes amid increased volatility of copper on the London Metal Exchange, while copper scrap discounts have been shifting on a more regular basis. This more frequent assessment will enable Fastmarkets to reflect market dynamics in a timelier manner, as well as capture more spot […]
February 4, 2026
 · 
By Fastmarkets pricing team
Correction to Shanghai bonded nickel stocks on January 30: pricing notice
Fastmarkets has corrected its assessments for Shanghai bonded nickel stocks on January 30.
February 4, 2026
 · 
By Fastmarkets pricing team
Correction to rationale of Aluminium P1020A premium, in-whs dup Rotterdam
Fastmarkets has corrected the rationale for its MB-AL-0346 Aluminium P1020A premium, in-whs dup Rotterdam, $/tonne that was published incorrectly on Thursday January 29.
January 30, 2026
 · 
By Fastmarkets pricing team
Correction to rationale of aluminium 6063 extrusion billet premium, ddp Spain
Fastmarkets has corrected the rationale for its MB-AL-0299 aluminium 6063 extrusion billet premium, ddp Spain that was published incorrectly on Friday January 23.
January 29, 2026
 · 
By Fastmarkets pricing team