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Shanghai Spot Copper Price Movement on Sept. 19
Sep 19,2011 14:40CST
smm insight
Source:SMM
Shanghai spot copper offers were quoted between discounts of negative RMB 50/mt and premiums of positive RMB 50/mt today.

SHANGHAI, Sept. 19 (SMM) –Shanghai spot copper offers were quoted between discounts of negative RMB 50/mt and premiums of positive RMB 50/mt today. Traded prices for standard-quality copper were between RMB 64,150-65,250/mt, and RMB 64,200-64,350/mt for high-quality copper. SHFE copper prices fell by nearly 3%, and hedged copper came into the market again, with growing bearish sentiment overshadowing the market. In this context, cargo-holders were eager to move goods for cash generation, and failed to maintain offers at premiums, while downstream producers chose to stay on the sidelines due to expectations of falling copper prices. Market surpluses remained, making weak transactions more pronounced.

 

Shanghai spot copper price movement

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