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Shanghai Spot Copper Price Movement on Nov. 4
Nov 4,2011 13:06CST
smm insight
Source:SMM
Shanghai spot copper offers were quoted between discounts of negative RMB 100/mt and premiums of positive RMB 0/mt today.

SHANGHAI, Nov. 4 (SMM) –Shanghai spot copper offers were quoted between discounts of negative RMB 100/mt and premiums of positive RMB 0/mt today. Traded prices for standard-quality copper were between RMB 58,800-59,150/mt, and RMB 58,900-59,250/mt for high-quality copper. As SHFE copper prices moved higher and combined with weak consumption on the spot market, cargo-holders of imported copper failed to maintain premiums but had to make offers at a discount to promote transactions and generate cash. In this context, cargo-holders of domestic copper were also unwilling to move goods, with traded prices struggling at RMB 59,000/mt between market suppliers and buyers. 
 

Shanghai spot copper price movement

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