Metals News
Shanghai Spot Copper Price Movement on Jan. 13
smm insight
13:19PM
Source:SMM

SHANGHAI, Jan. 13 (SMM) –Shanghai spot copper offers were quoted between discounts of negative RMB 120-20/mt in the morning business. Traded prices for standard-quality copper were between RMB 56,850-57,100/mt, and RMB 56,950-57,250/mt for high-quality copper. SHFE copper prices fluctuated after a high open, and as Friday was the delivery date for SHFE 1201 copper contracts, market activity on the SHFE was active. As copper supply in the spot market decreased, cargo-holders held firm prices, helping copper discounts narrow and turn to premiums at the tail of trading. Speculators chose to enter the market at discounts, while downstream producers stood on the sidelines. Overall, market transactions rose after initially falling in the morning business. 

 

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