Shanghai Spot Copper Price Movement on Feb. 22

SMM Insight 01:15:12PM Feb 23, 2012 Source:SMM

SHANGHAI, Feb. 22 (SMM) –Spot copper discounts in Shanghai were quoted between negative RMB 480-380/mt in Thursday’s morning business. Traded prices for standard-quality copper were between RMB 59,300-59,400/mt, and RMB 59,350-59,450/mt for high-quality copper. SHFE copper prices fell, causing hedged copper to come into the market. Spot copper discounts prevailed as a result. Downstream buying interest failed to improve, while traders chose to purchase high-quality copper that can be delivered. Quotations for the Guixi Brand were extremely high, leaving overall market activity light. 
 

Shanghai Spot Copper Price Movement on Feb. 22

SMM Insight 01:15:12PM Feb 23, 2012 Source:SMM

SHANGHAI, Feb. 22 (SMM) –Spot copper discounts in Shanghai were quoted between negative RMB 480-380/mt in Thursday’s morning business. Traded prices for standard-quality copper were between RMB 59,300-59,400/mt, and RMB 59,350-59,450/mt for high-quality copper. SHFE copper prices fell, causing hedged copper to come into the market. Spot copper discounts prevailed as a result. Downstream buying interest failed to improve, while traders chose to purchase high-quality copper that can be delivered. Quotations for the Guixi Brand were extremely high, leaving overall market activity light.