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
Sep.20
47395.0
-65.0
(-0.14%)
Standard-Grade Copper
Sep.20
47380.0
-70.0
(-0.15%)
High-Grade Copper
Sep.20
47415.0
-55.0
(-0.12%)
Guixi copper
Sep.20
47425.0
-55.0
(-0.12%)
Low-quality copper
Sep.20
47330.0
-85.0
(-0.18%)

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.