Shanghai Spot Copper Price Movement on Dec. 5-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Copper
  • Copper scrap
  • Inventory data
  • Rare earth
  • Lithium
  • Evening comments
  • Market commentary
  • Aluminium
  • Customs data
  • Silicon
  • MMi Iron Ore Port Index
  • Futures movement
  • Cobalt
  • silver prices

Shanghai Spot Copper Price Movement on Dec. 5

SMM Insight 01:10:54PM Dec 05, 2011 Source:SMM

SHANGHAI, Dec. 5 (SMM) –Shanghai spot copper offers were quoted between premiums of positive RMB 50-180/mt today. Traded prices for standard-quality copper were between RMB 58,400-58,550/mt, and RMB 58,500-58,650/mt for high-quality copper. Although SHFE copper prices moved lower after a high open, copper supply increased since imported copper arriving at Chinese ports rose at the weekend, causing cargo-holders to actively move goods at high price levels and copper premiums to fall. Downstream producers still stayed out of the market, while hedge trading by traders was restricted, leaving market in a surplus again.
 

Shanghai Spot Copper Price Movement on Dec. 5

SMM Insight 01:10:54PM Dec 05, 2011 Source:SMM

SHANGHAI, Dec. 5 (SMM) –Shanghai spot copper offers were quoted between premiums of positive RMB 50-180/mt today. Traded prices for standard-quality copper were between RMB 58,400-58,550/mt, and RMB 58,500-58,650/mt for high-quality copper. Although SHFE copper prices moved lower after a high open, copper supply increased since imported copper arriving at Chinese ports rose at the weekend, causing cargo-holders to actively move goods at high price levels and copper premiums to fall. Downstream producers still stayed out of the market, while hedge trading by traders was restricted, leaving market in a surplus again.