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Shanghai Spot Copper Price Movement on Nov. 7
Nov 7,2011 13:30CST
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, Nov. 7 (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 58,300-58,800/mt, and RMB 58,350-58,900/mt for high-quality copper. SHFE copper prices moved lower, and cargo-holders of hedged copper allowed transactions at a discount for profit-taking, dampening domestic copper, especially domestic standard-quality copper. Market transactions were restricted by market pessimism towards copper prices this week, with financing demand exceeding copper fundamental demand.
 
 

Shanghai spot copper price movement

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