Shanghai Spot Copper Price Movement on Feb. 24-Shanghai Metals Market

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Shanghai Spot Copper Price Movement on Feb. 24

SMM Insight 01:12:42PM Feb 24, 2012 Source:SMM

SHANGHAI, Feb. 24 (SMM) –Spot copper discounts in Shanghai were quoted between negative RMB 430-300/mt in Friday’s morning business. Traded prices for standard-quality copper were between RMB 59,250-59,450/mt, and RMB 59,350-59,550/mt for high-quality copper. SHFE copper prices moved lower after a high open, while market transactions were restricted at RMB 61,000/mt. Spot copper supply decreased slightly, which was due largely to domestic standard-quality copper cargo-holders’ unwillingness in moving goods. High-quality copper was more favored by traders, but overall copper consumption failed to improve considerably. Market transactions were limited as a consequence.
 

Price

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#1 Lead
Oct.22
16875.0
-100.0
(-0.59%)
#1 Lead - Guangdong
Oct.21
16925.0
-75.0
(-0.44%)
#1 Lead - Henan
Oct.21
16875.0
-75.0
(-0.44%)
#1 Lead -Tianjin
Oct.21
16925.0
-50.0
(-0.29%)
#2 Lead
Oct.22
16325.0
-150.0
(-0.91%)

Shanghai Spot Copper Price Movement on Feb. 24

SMM Insight 01:12:42PM Feb 24, 2012 Source:SMM

SHANGHAI, Feb. 24 (SMM) –Spot copper discounts in Shanghai were quoted between negative RMB 430-300/mt in Friday’s morning business. Traded prices for standard-quality copper were between RMB 59,250-59,450/mt, and RMB 59,350-59,550/mt for high-quality copper. SHFE copper prices moved lower after a high open, while market transactions were restricted at RMB 61,000/mt. Spot copper supply decreased slightly, which was due largely to domestic standard-quality copper cargo-holders’ unwillingness in moving goods. High-quality copper was more favored by traders, but overall copper consumption failed to improve considerably. Market transactions were limited as a consequence.