TREE NEWS reports: The Yangshan copper premium, which measures the amount Chinese importers pay above the London Metal Exchange price, jumped above $200 per tonne on Wednesday and held near that level, setting the highest reading in Fastmarkets data going back to 2017. The premium has surged sharply over the past few months.
Yangshan copper premium tops $200/t, highest on record since 2017
AI take
A record-high Yangshan premium points to a physical tightness in China's copper import market that paper prices alone would not reveal, with the premium's persistence near the peak as telling as the jump itself. The signal matters most for importers paying up for metal and for anyone reading LME spreads as a proxy for Chinese demand. Whether the premium holds above this threshold or mean-reverts is the open question; the multi-month surge suggests it reflects more than a single session's squeeze.
Generated by AI for reference only.
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