SHFE Spot Copper Price Movement on Wednesday -Shanghai Metals Market

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SHFE Spot Copper Price Movement on Wednesday

SMM Insight 01:38:27PM Jul 27, 2011 Source:SMM

SHANGHAI, Jul. 26 (SMM) –Spot copper discounts were quoted between negative RMB 420-300/mt on Wednesday. Trade prices for standard-quality copper were between 71,850-71,950/mt, and RMB 71,900-72,050/mt for high-quality copper. As copper prices fluctuated after a high open, spot copper discounts increased to around RMB 400/mt. Market supply was dominated by high-quality copper, as cargo-holders were reluctant to sell domestic standard-quality copper due to significantly high copper discounts. Copper prices moved around RMB 72,000/mt, trading volumes gradually contracted.
 

Price

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#1 Refined Cu
Dec.06
47375.0
100.0
(0.21%)
Standard-Grade Copper
Dec.06
47370.0
100.0
(0.21%)
High-Grade Copper
Dec.06
47380.0
100.0
(0.21%)
Guixi Copper
Dec.06
47385.0
105.0
(0.22%)
Low-Quality Copper
Dec.06
47290.0
100.0
(0.21%)

SHFE Spot Copper Price Movement on Wednesday

SMM Insight 01:38:27PM Jul 27, 2011 Source:SMM

SHANGHAI, Jul. 26 (SMM) –Spot copper discounts were quoted between negative RMB 420-300/mt on Wednesday. Trade prices for standard-quality copper were between 71,850-71,950/mt, and RMB 71,900-72,050/mt for high-quality copper. As copper prices fluctuated after a high open, spot copper discounts increased to around RMB 400/mt. Market supply was dominated by high-quality copper, as cargo-holders were reluctant to sell domestic standard-quality copper due to significantly high copper discounts. Copper prices moved around RMB 72,000/mt, trading volumes gradually contracted.