Shanghai Spot Copper Price Movement on Feb. 22-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Nickel
  • Market commentary
  • Copper scrap
  • Aluminium
  • Copper
  • Inventory data
  • Rare earth
  • Nickel sulphate
  • NPI
  • Futures movement
  • Production data
  • Lead
  • Iron ore
  • Excavator

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. 
 

Price

more
#1 Refined Cu
Jul.16
46890.0
90.0
(0.19%)
Standard-Grade Copper
Jul.16
46860.0
90.0
(0.19%)
High-Grade Copper
Jul.16
46920.0
100.0
(0.21%)
Guixi copper
Jul.16
46925.0
100.0
(0.21%)
Low-quality copper
Jul.16
46825.0
95.0
(0.20%)

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.