SHFE Spot Copper Price Movement on Aug. 31-Shanghai Metals Market

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SHFE Spot Copper Price Movement on Aug. 31

SMM Insight 01:29:23PM Aug 31, 2011 Source:SMM

SHANGHAI, Aug. 31 (SMM) –Spot copper offers were quoted between discounts of negative RMB 120-20/mt today. Trade prices for standard-quality copper were between RMB 68,050-68,100/mt in the morning business, and RMB 68,100-68,200/mt for high-quality copper. SHFE copper prices fell after a high open, but circulating copper sources in the market fell slightly due to cash flow pressures on the last trading day of August, with imported copper accounting for most of the market circulation. Traders with no cash flow problems quoted price offers firm, helping copper discounts fall. However, fewer purchases were made, and market transactions were significantly down, highlighting the characteristic of the month’s end. 
 

Price

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#1 Refined Cu
Oct.16
46915.0
-70.0
(-0.15%)
Standard-Grade Copper
Oct.16
46905.0
-75.0
(-0.16%)
High-Grade Copper
Oct.16
46925.0
-65.0
(-0.14%)
Guixi copper
Oct.16
46930.0
-65.0
(-0.14%)
Low-quality copper
Oct.16
46875.0
-60.0
(-0.13%)

SHFE Spot Copper Price Movement on Aug. 31

SMM Insight 01:29:23PM Aug 31, 2011 Source:SMM

SHANGHAI, Aug. 31 (SMM) –Spot copper offers were quoted between discounts of negative RMB 120-20/mt today. Trade prices for standard-quality copper were between RMB 68,050-68,100/mt in the morning business, and RMB 68,100-68,200/mt for high-quality copper. SHFE copper prices fell after a high open, but circulating copper sources in the market fell slightly due to cash flow pressures on the last trading day of August, with imported copper accounting for most of the market circulation. Traders with no cash flow problems quoted price offers firm, helping copper discounts fall. However, fewer purchases were made, and market transactions were significantly down, highlighting the characteristic of the month’s end.