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SHFE Spot Copper Price Movement on Monday
Aug 1,2011 13:52CST
smm insight
Source:SMM
Trade prices for standard-quality copper were between RMB 72,200-72,350/mt, and RMB 72,250-72,400/mt for high-quality copper.

SHANGHAI, Aug. 1 (SMM) –Spot copper discounts were quoted between negative RMB 500-350/mt on Monday. Trade prices for standard-quality copper were between RMB 72,200-72,350/mt, and RMB 72,250-72,400/mt for high-quality copper. SHFE copper prices fell after a high open, but spot copper discounts didn’t change significantly. Cargo-holders were unwilling to sell domestic standard-quality copper given high copper discounts, while high-quality copper was also reported limited transactions despite ample market supply. As the US debt ceiling talks remained unresolved, downstream producers made limited purchases, and traders were also wary of trading at the start of August, bringing market transactions into a stalemate.  
 

SHFE copper price movement

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