Shanghai Spot Copper Price Movement on Jan. 11

SMM Insight 01:32:22PM Jan 11, 2012 Source:SMM

SHANGHAI, Jan. 11 (SMM) –Shanghai spot copper offers were quoted between discounts of negative RMB 200-80/mt in the morning business. Traded prices for standard-quality copper were between RMB 55,700-55,850/mt, and RMB 55,750-55,950/mt for high-quality copper. SHFE copper prices moved higher after a high open, but spot copper supply decreased since cargo-holders became less willing to move goods at large discounts. Downstream producers lacked buying interest near the RMB 56,000/mt level, causing market transactions to become weak.

 

Shanghai Spot Copper Price Movement on Jan. 11

SMM Insight 01:32:22PM Jan 11, 2012 Source:SMM

SHANGHAI, Jan. 11 (SMM) –Shanghai spot copper offers were quoted between discounts of negative RMB 200-80/mt in the morning business. Traded prices for standard-quality copper were between RMB 55,700-55,850/mt, and RMB 55,750-55,950/mt for high-quality copper. SHFE copper prices moved higher after a high open, but spot copper supply decreased since cargo-holders became less willing to move goods at large discounts. Downstream producers lacked buying interest near the RMB 56,000/mt level, causing market transactions to become weak.