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Key data from July 2 pricing
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