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SHFE Spot Copper Price Movement on Aug. 8
Aug 8,2011 13:06CST
smm insight
Source:SMM
Spot copper offers were quoted between premiums of positive RMB 50-150/mt today.

SHANGHAI, Aug. 8 (SMM) –Spot copper offers were quoted between premiums of positive RMB 50-150/mt today. Trade prices for standard-quality copper were between RMB 68,000-68,180/mt, and RMB 68,100-68,250/mt for high-quality copper. As SHFE copper prices slumped by 2%, all spot copper offers returned into premiums. Downstream producer’s purchases at low prices were hampered due to panic sell-offs in commodity markets, while higher spot copper premiums also dampened trader’s buying interest. Market players for hedge trading were active in moving goods, but market sentiment remained bearish.
 

SHFE spot copper price movement

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