Shanghai Spot Copper Price Movement on Feb. 21-Shanghai Metals Market

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Shanghai Spot Copper Price Movement on Feb. 21

SMM Insight 01:16:08PM Feb 21, 2012 Source:SMM

SHANGHAI, Feb. 21 (SMM) –Shanghai spot copper offers were reported between discounts of negative RMB 420-300/mt in Tuesday’s morning business. Traded prices for standard-quality copper were between RMB 58,750-59,050/mt, and RMB 58,800-59,200/mt for high-quality copper. As SHFE copper prices fluctuated in a broad band, and as spot copper supply remained ample, spot copper discounts expanded further. Domestic copper smelters reduced copper sales owing to excessive copper discounts, while traders were wary of buying due to severe fluctuations in copper prices. Downstream producers had no intention of buying when copper prices surged abruptly in the session. Market transactions failed to improve as a result, leaving market surpluses more pronounced.
 

Price

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#1 Lead
Apr.19
16550.0
50.0
(0.30%)
T/C for domestic lead concentrate
Apr.01
1850.0
0.0
(0.00%)
T/C for imported lead concentrate
Apr.01
27.5
0.0
(0.00%)
#2 Lead
Apr.19
16500.0
50.0
(0.30%)
Secondary Lead
Apr.19
16100.0
50.0
(0.31%)

Shanghai Spot Copper Price Movement on Feb. 21

SMM Insight 01:16:08PM Feb 21, 2012 Source:SMM

SHANGHAI, Feb. 21 (SMM) –Shanghai spot copper offers were reported between discounts of negative RMB 420-300/mt in Tuesday’s morning business. Traded prices for standard-quality copper were between RMB 58,750-59,050/mt, and RMB 58,800-59,200/mt for high-quality copper. As SHFE copper prices fluctuated in a broad band, and as spot copper supply remained ample, spot copper discounts expanded further. Domestic copper smelters reduced copper sales owing to excessive copper discounts, while traders were wary of buying due to severe fluctuations in copper prices. Downstream producers had no intention of buying when copper prices surged abruptly in the session. Market transactions failed to improve as a result, leaving market surpluses more pronounced.