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Shanghai Spot Copper Price Movement on Dec. 30
Dec 30,2011 13:09CST
smm insight
Source:SMM
Shanghai spot copper offers were quoted between discounts of negative RMB 400-200/mt today.

SHANGHAI, Dec. 30 (SMM) –Shanghai spot copper offers were quoted between discounts of negative RMB 400-200/mt today. Traded prices for standard-quality copper were between RMB 55,100-55,250/mt, and RMB 55,200-55,400/mt for high-quality copper. Although SHFE copper prices moved higher after a high open, spot copper discounts narrowed significantly, resulting from a sharp drop in copper supply since cargo-holders were reluctant to sell owing to financial factors during the last trading day of the year. Downstream producers had no interest in buying due to tight cash flows, highlighting characteristics at the year’s last trading day. 
 

Shanghai spot copper price movement

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