Primary Market Developments: Shanghai price on the rise

摘要

The SHFE cash price has outperformed the LME cashprice in both RMB and dollar terms since early March(see charts). Over the period 01 March to 01 April theSHFE cash price rose 5.6% in RMB terms toRMB11,835/t and 6.5% in dollar terms to $1,827/tcompared to a fall of 4.2% in the LME cash price to$1,523/t over the same period. However, the LME 3-month price fell by a more modest 2.6%.