Shanghai Spot Copper Price Movement on Feb. 8-Shanghai Metals Market

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Shanghai Spot Copper Price Movement on Feb. 8

SMM Insight 01:20:27PM Feb 08, 2012 Source:SMM

SHANGHAI, Feb. 8 (SMM) –Shanghai spot copper discounts were reported between negative RMB 300-150/mt in the morning business. Traded prices for standard-quality copper were between RMB 59,350-59,530/mt, and RMB 59,450-59,650/mt for high-quality copper. SHFE copper prices moved higher, but cargo-holders narrowed offers for copper discounts owing to the approach of the delivery date. As the gap between current-month copper contracts and forward contracts expanded, speculative activity increased. However, consumption downstream kept cautious since copper prices hadn’t moved out of fluctuations.
 

Price

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#1 Refined Cu
Apr.22
49450.0
20.0
(0.04%)
Yangshan Copper Premium(Bill of Lading)
Apr.22
51.5
0.0
(0.00%)
Yangshan Copper Premium(Warehouse Warrant)
Apr.22
50.5
0.0
(0.00%)
Imported Cu Concentrate TC(Cu≥26%,Week)
Apr.19
67.0
-1.5
(-2.19%)
Imported Cu Concentrate TC(Cu≥26%,Month)
Mar.29
73.5
-6.0
(-7.55%)

Shanghai Spot Copper Price Movement on Feb. 8

SMM Insight 01:20:27PM Feb 08, 2012 Source:SMM

SHANGHAI, Feb. 8 (SMM) –Shanghai spot copper discounts were reported between negative RMB 300-150/mt in the morning business. Traded prices for standard-quality copper were between RMB 59,350-59,530/mt, and RMB 59,450-59,650/mt for high-quality copper. SHFE copper prices moved higher, but cargo-holders narrowed offers for copper discounts owing to the approach of the delivery date. As the gap between current-month copper contracts and forward contracts expanded, speculative activity increased. However, consumption downstream kept cautious since copper prices hadn’t moved out of fluctuations.