![]() ![]() Note : GST and such other taxes as may be applicable shall be charged to customers as per rules. The customer shall select one particular Exchange Rate Option out of the above, at the time of submitting their booking in HCL website.ĬC Rod 8mm Non Standard – Rs.400/-PMT lower than CC Rod 8mmĬathode (Cut)-Ex-ICC – Rs.1500/-PMT higher than Cathode (Full) Copper/Gold Ratio: Still Counter-Cyclical. ![]() Argus brings transparency to the global metal markets through its independent. Note : Exchange rate of Previous working day in case of SBI/FBIL holiday on date of CSP for CSP (D) option and Next working day in case of SBI/FBIL holiday on date of CSP for CSP (D+1) option.Īverage FBIL Reference Rate of W/FN/M + Re.0.10 Copper cathode grade A premium del southern Europe prices USD/mt. SBI TT Selling Rate of Date next to Date of CSP (D+1) ORįBIL Reference Rate of Date next to Date of CSP (D+1) + Re. SBI TT Selling Rate of Date of CSP (D) ORįBIL Reference Rate of Date of CSP (D) + Re.0.10 OR * Note : Forward option is available only for CSP and not Average bookings The caveat could be that there's a bumpier road ahead for copper for the rest of the year.Where : D=Daily CSP, M=Monthly avg. However, since then, the DXY has been broadly caught in a large rangebound and slightly grinding higher from the lows seen in May. The trade-weighted dollar index fell from its recent peak above 93 at the end of March to below 90 at mid-May, during the period copper hit its record. There have been rising speculations on FED tapering, and there seems to be no one-way track in such as the dollar bear trend, so does for copper. The primary products offered by the companies of the KGHM Group are concentrates, cathodes and copper wire rod. Much of the market gyrations we have seen in recent markets closely track the broader macro market activities. That may imply there could be a bigger concern in the market rather than just reduced appetite from China in copper's case. In the case of Aluminium, China's imports have remained strong, signalling that the country has been continuously drawing down the surplus from the offshore market. The market is getting cautious with China's retreating in its copper purchases, but the recent weakness in prices has been seen across the industrial metals complex. Secondly, there has been simply waning appetite in stockpiling, whether its state-backed or commercial type. This statistic depicts the average monthly prices for copper from January 2014 through September 2023. The increasing gap between Chinese PPI and CPI partially implies that many manufacturers stuck in the middle are bearing the brunt of rising costs. Research expert covering historical data. However, such export activities are rare, and not every trader has access to do this.Īs we noted earlier, the contraction in imports is not something happening out of the blue, and at least a sliding Yangshan premium had heralded longer before the actual trade number came, but the underlying causes are worth paying attention to.įirst, the record high copper prices have received rising pushbacks from the world's largest consumer, with some physical buyers on the sidelines and manufacturers are reportedly trimming down operations. This is not a surprise given the cross-market arbitrage (Shanghai/London) in spot terms swung in favour of exports by onshore traders instead of imports. Pricing Formula and Premium for Copper Products : a) LME Price : b) Premium : Note c) Multiplication Factor : d) Exchange rate Options : For Daily CSP. So the preliminary trade data for May could suggest that cathode imports still fell from the April level, as the detailed number will only be available later this month.īut to be clear, China is still the largest copper importer, but exports are slowly creeping up, so as a result net imports have started to dwindleīut to be clear, China is still the largest copper importer, but exports are slowly creeping up, so as a result net imports have started to dwindle. Looking at cathode alone, imports fell by 10% MoM in April to just below 320kt. ![]() This includes both copper cathode and alloys products, but the bulk of it (around 90%) is copper cathode. The preliminary trade data released by the China Customs on Monday shows that imports of refined copper and copper products fell by more than 8% month-on-month to 446kt in May for the second consecutive month. ![]()
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