Shanghai Spot Copper Price Movement on Feb. 6

SMM Insight 01:07:34PM Feb 06, 2012 Source:SMM

SHANGHAI, Feb. 6 (SMM) –Shanghai spot copper discounts were reported between negative RMB 350-200/mt in the morning business. Traded prices for standard-quality copper were between RMB 59,500-59,700/mt, and RMB 59,600-59,800/mt for high-quality copper. SHFE copper prices fluctuated at high levels, but cargo-holders had no intention of expanding copper discounts since hedge trading was constrained. Downstream producers stuck to the sidelines, highlighting cautious market activity as a whole on Monday.
 

Shanghai Spot Copper Price Movement on Feb. 6

SMM Insight 01:07:34PM Feb 06, 2012 Source:SMM

SHANGHAI, Feb. 6 (SMM) –Shanghai spot copper discounts were reported between negative RMB 350-200/mt in the morning business. Traded prices for standard-quality copper were between RMB 59,500-59,700/mt, and RMB 59,600-59,800/mt for high-quality copper. SHFE copper prices fluctuated at high levels, but cargo-holders had no intention of expanding copper discounts since hedge trading was constrained. Downstream producers stuck to the sidelines, highlighting cautious market activity as a whole on Monday.