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#1 Copper Prices Monitored by MOC Narrowed Weekly Gains
Jul 27,2011 14:09CST
smm insight
Source:SMM
In particular, #1 copper prices rose by 0.7% from the previous week (from July 11th to July 17th).

SHAGNHAI, Jul. 27 (SMM) –The Ministry of Commerce (MOC) announced on July 26th the price movements for specially monitored production materials for last week (from July 18th to July 24th). In particular, #1 copper prices rose by 0.7% from the previous week (from July 11th to July 17th).

Compared to early July, weekly gains for #1 copper have narrowed. According to MOC statistics, #1 copper prices in the week ending July 8th were up 3.1% weekly, and up 0.9% in the week ending July 15th.  
 
Based on SMM statistics, #1 copper prices averaged at RMB 71,835/mt in the week ending July 22nd. The returning high copper prices have damped downstream processing enterprises’ buying interest, and oversupply has begun to appear in the market.
 

#1 copper prices;MOC

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