How to convert Shanghai copper and spot

The formula for this conversion relationship is as follows:

1. Determine the spot price: First, you need to determine the copper price in the spot market. This price can be determined based on different market sources, such as copper prices on the London Metal Exchange (LME) or the Shanghai Futures Exchange.

2. Calculate the spot premium and discount: Calculate the difference between the LME futures price and the spot price. This gap is the spot premium and discount.

3. Calculate the CIF premium and discount: Add the import tariff rate and the VAT rate, then multiply by the exchange rate to get the CIF premium and discount.

4. Calculate the total premium and discount: Add the spot premium and discount and the landed premium and discount to get the total premium and discount.

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