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Shanghai Spot Copper Price Movement on Sept. 16
Sep 16,2011 13:31CST
smm insight
Source:SMM
Changes in Shanghai spot copper offers were relatively big today, with discounts reported from negative RMB 70-0/mt in the morning business to RMB 120-50/mt.

SHANGHAI, Sept. 16 (SMM) – Changes in Shanghai spot copper offers were relatively big today, with discounts reported from negative RMB 70-0/mt in the morning business to RMB 120-50/mt as SHFE copper prices moved strongly higher after fluctuations. Traded prices for standard-quality copper were between RMB 65,650-65,750/mt, and RMB 65,700-65,850/mt for high-quality copper. In the spot market, cargo-holders were unable to move goods, since copper supply fell slightly and hedge trading was locked. Cargo-holders of domestic copper were unwilling to sell when transactions were made at discounts, while downstream producers increased purchases before the arrival of weekends and since SHFE copper prices began to stabilize following the declines. Market surpluses eased slightly today.  

 

Shanghai spot copper price movement

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