Shanghai Spot Copper Price Movement on Nov. 28-Shanghai Metals Market

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Shanghai Spot Copper Price Movement on Nov. 28

SMM Insight 01:23:34PM Nov 28, 2011 Source:SMM

SHANGHAI, Nov. 28 (SMM) –Shanghai spot copper offers were quoted between premiums of positive RMB 450-600/mt today. Traded prices for standard-quality copper were between RMB 56,750-56,900/mt, and RMB 56,850-57,000/mt for high-quality copper. As SHFE copper prices moved higher after a high open and the SHFE/LME copper price ratio stabilized above 7.45, high spot copper premiums were restricted. Overall copper supply fell slightly since some copper hedged last week was hampered. Downstream producers kept wary of purchases on Monday, and transactions at low price levels were modest.  
 

Shanghai Spot Copper Price Movement on Nov. 28

SMM Insight 01:23:34PM Nov 28, 2011 Source:SMM

SHANGHAI, Nov. 28 (SMM) –Shanghai spot copper offers were quoted between premiums of positive RMB 450-600/mt today. Traded prices for standard-quality copper were between RMB 56,750-56,900/mt, and RMB 56,850-57,000/mt for high-quality copper. As SHFE copper prices moved higher after a high open and the SHFE/LME copper price ratio stabilized above 7.45, high spot copper premiums were restricted. Overall copper supply fell slightly since some copper hedged last week was hampered. Downstream producers kept wary of purchases on Monday, and transactions at low price levels were modest.