|
Singapore in-warehouse premium |
||||||
|
This week |
Prior week |
This week's weighted average premium |
Last week's weighted average |
LME stocks as of July 2 (tonnes) |
LME stocks as of June 25 (tonnes) |
LME stocks as of June 2 (tonnes) |
|
15-25 |
15-40 |
19.17 |
18.59 |
18,375 |
18,425 |
18,475 |
|
|
|
|
|
|
|
|
|
Johor in-warehouse premium |
||||||
|
This week |
Prior week |
This week's weighted average premium |
Last week's weighted average |
LME stocks as of July 2 (tonnes) |
LME stocks as of June 25 (tonnes) |
LME stocks as of June 2 (tonnes) |
|
15-25 |
15-40 |
19.17 |
18.59 |
77,450 |
77,550 |
77,725 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
South Korea cif premium |
||||||
|
This week |
Prior week |
This week's weighted average premium |
Last week's weighted average |
LME stocks as of July 2 (tonnes) |
LME stocks as of June 25 (tonnes) |
LME stocks as of June 2 (tonnes) |
|
55-65 |
55-65 |
60.63 |
58.75 |
41,800 |
41,900 |
40,350 |
Key drivers
Singapore and Johor in-warehouse premium ranges narrow with not much material on offer
Market in Asia quiet as demand slows down
South Korean market waiting for PPS tender on July 3 for 2,500 tonnes of copper
Key quotes
“Continued to see small enquiries for copper warrants in Singapore from trading firms,” a broker said in a note to clients, adding “July 15 Shanghai import loss at $40, which also generated some warrant interest from clients.”
“We sold small volumes at an $80 per tonne premium last week to South Korea because someone really needed the material,” a trader said, adding that “It’s as depressed as China so premiums are closer to $55-65 per tonne on cif basis”
See also:
Key data from June 25 pricing session
European copper cathode market is under strain as strong imports from Russia and Africa exacerbate a domestic imbalance between supply and demand.
For more on Metal Bulletin’s daily Shanghai copper premiums, click here to see Pricebook.
Shivani Singh
shivani.singh@metalbulletinasia.com
Twitter: @ShivaniSingh_MB