Shanghai Spot Copper Price Movement on Feb. 27

SMM Insight 01:14:30PM Feb 27, 2012 Source:SMM

SHANGHAI, Feb. 27 (SMM) –Spot copper discounts in Shanghai were quoted between negative RMB 450-350/mt in Monday’s morning business. Traded prices for standard-quality copper were between RMB 59,300-59,400/mt, and RMB 59,350-59,500/mt for high-quality copper. As SHFE copper prices lacked momentum to rebound, spot copper discounts remained around negative RMB 400/mt. The supply of high-quality copper decreased due to increased buying interest from traders. Domestic copper smelters continued to hold back goods, while cash flow pressures at downstream producers became more pronounced as the month ends, leaving market activity lackluster.
 

Shanghai Spot Copper Price Movement on Feb. 27

SMM Insight 01:14:30PM Feb 27, 2012 Source:SMM

SHANGHAI, Feb. 27 (SMM) –Spot copper discounts in Shanghai were quoted between negative RMB 450-350/mt in Monday’s morning business. Traded prices for standard-quality copper were between RMB 59,300-59,400/mt, and RMB 59,350-59,500/mt for high-quality copper. As SHFE copper prices lacked momentum to rebound, spot copper discounts remained around negative RMB 400/mt. The supply of high-quality copper decreased due to increased buying interest from traders. Domestic copper smelters continued to hold back goods, while cash flow pressures at downstream producers became more pronounced as the month ends, leaving market activity lackluster.