Shanghai Spot Copper Price Movement on Jan. 6-Shanghai Metals Market

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Shanghai Spot Copper Price Movement on Jan. 6

SMM Insight 01:13:20PM Jan 06, 2012 Source:SMM

SHANGHAI, Jan. 6 (SMM) –Shanghai spot copper offers were quoted between discounts of negative RMB120/mt and premiums of positive RMB 20/mt today. Traded prices for standard-quality copper were between RMB 55,750-55,900/mt, and RMB 55,850-56,050/mt for high-quality copper. SHFE copper prices fell after initially increasing, but the supply on the spot copper market was sufficient. As the inverted price relationship between SHFE 1201 and 1202 copper contracts eased some, cargo-holders of spot copper held prices firm. Some speculators made purchases owing to some profit margins, and downstream producers opted to replenish some stocks before the weekends, helping improve overall market transactions.
 

Shanghai Spot Copper Price Movement on Jan. 6

SMM Insight 01:13:20PM Jan 06, 2012 Source:SMM

SHANGHAI, Jan. 6 (SMM) –Shanghai spot copper offers were quoted between discounts of negative RMB120/mt and premiums of positive RMB 20/mt today. Traded prices for standard-quality copper were between RMB 55,750-55,900/mt, and RMB 55,850-56,050/mt for high-quality copper. SHFE copper prices fell after initially increasing, but the supply on the spot copper market was sufficient. As the inverted price relationship between SHFE 1201 and 1202 copper contracts eased some, cargo-holders of spot copper held prices firm. Some speculators made purchases owing to some profit margins, and downstream producers opted to replenish some stocks before the weekends, helping improve overall market transactions.