Shanghai Spot Copper Price Movement on Feb. 28-Shanghai Metals Market

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Shanghai Spot Copper Price Movement on Feb. 28

SMM Insight 01:12:08PM Feb 28, 2012 Source:SMM

SHANGHAI, Feb. 28 (SMM) –Spot copper discounts in Shanghai were still quoted between negative RMB 450-350/mt in Tuesday’s morning business. Traded prices for standard-quality copper were between RMB 59,550-59,650/mt, and RMB 59,600-59,750/mt for high-quality copper. SHFE copper prices rose above RMB 60,000/mt. Downstream producers stood on the sidelines at the RMB 60,000/mt mark, while some traders without cash flow pressures chose to buy high-quality copper. As a result, the supply of high-quality copper decreased, allowing discounts to fall slightly. Market activity was light since cash flows were tight owing to the end of the month.
 

Price

more
#1 Lead
Apr.22
16600.0
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.22
16525.0
25.0
(0.15%)
Secondary Lead
Apr.22
16125.0
25.0
(0.16%)

Shanghai Spot Copper Price Movement on Feb. 28

SMM Insight 01:12:08PM Feb 28, 2012 Source:SMM

SHANGHAI, Feb. 28 (SMM) –Spot copper discounts in Shanghai were still quoted between negative RMB 450-350/mt in Tuesday’s morning business. Traded prices for standard-quality copper were between RMB 59,550-59,650/mt, and RMB 59,600-59,750/mt for high-quality copper. SHFE copper prices rose above RMB 60,000/mt. Downstream producers stood on the sidelines at the RMB 60,000/mt mark, while some traders without cash flow pressures chose to buy high-quality copper. As a result, the supply of high-quality copper decreased, allowing discounts to fall slightly. Market activity was light since cash flows were tight owing to the end of the month.