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Shanghai Spot Copper Price Movement on Dec. 15
Dec 15,2011 13:45CST
smm insight
Source:SMM
Shanghai spot copper offers were quoted between discounts of negative RMB 500-300/mt today.

SHANGHAI, Dec. 15 (SMM) –Shanghai spot copper offers were quoted between discounts of negative RMB 500-300/mt today. Traded prices for standard-quality copper were between RMB 54,400-54,550/mt, and RMB 54,450-54,700/mt for high-quality copper. SHFE copper prices fell by more than 3%, with the most actively-traded copper contract prices already losing RMB 54,000/mt. As the delivery day approaches, the price gap between SHFE 1112 and 1201 copper contract was between RMB 500-600/mt. In this context, cargo-holders were forced to increase copper discounts, propelling cargo-holders of domestic copper, especially high-quality copper, to hold back goods. Market supply was dominated by imported copper, and speculators were major market participants, with bearish sentiment spreading the market and low confidence about consumption at the year’s end.  
 

Shanghai spot copper price movement

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