Appreciation of yuan could spur copper financing deals
Nov 20, 2012 | 12:03 PM
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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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