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Shanghai Spot Copper Price Movement on Oct. 13
Oct 13,2011 15:07CST
smm insight
Source:SMM
Shanghai spot copper offers were quoted between premiums of positive RMB 50-150/mt today.

SHANGHAI, Oct. 13 (SMM) –Shanghai spot copper offers were quoted between premiums of positive RMB 50-150/mt today. Traded prices for standard-quality copper were between RMB 55,050-55,200/mt, and RMB 55,100-55,300/mt for high-quality copper. SHFE copper prices met resistance at RMB 55,000/mt, and the continuous falling SHFE/LME copper price ratio was negative for copper imports. Due to the approach of delivery date, cargo-holders tried to push up copper premiums, but market transactions showed weak. The number of market participants taking a wait-and-see stance was growing given low market confidence, bringing market transactions into a stalemate.   
 

Shanghai spot copper price movement

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