Appreciation of yuan could spur copper financing deals

Nov 20, 2012 | 12:03 PM |

Tags  copper, copper premium, copper financing deals, yuan appreciation, Shanghai Metals Market Information & Technology

SHANGHAI — The strengthening of the Chinese currency could lead to a near-term resurgence of copper imported under financing deals, market participants said.

Copper premiums were trading in the range of $35 to $60 per tonne Tuesday, mostly unchanged since October.

But the rise of the Chinese yuan to a record high early this week has encouraged some importers to again consider copper-backed financing trades that take profit from exchange-rate moves.....

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