Shanghai Spot Copper Price Movement on Mar. 1

SMM Insight 01:07:14PM Mar 01, 2012 Source:SMM

SHANGHAI, Mar. 1 (SMM) –Discounts on spot copper were reported between negative RMB 300-220/mt in Shanghai in Thursday’s morning business. Traded prices for standard-quality copper were between RMB 59,600-59,800/mt, and RMB 59,650-59,900/mt for high-quality copper. SHFE copper prices moved higher after a low open, boosting spot copper cargo-holder optimism towards future copper prices. Spot copper discounts fell significantly since supply decreased. Traders chose opportunities to enter the market, while downstream producers increased buying at low prices. As a consequence, market transactions improved some on the first trading day of March. 
 

Shanghai Spot Copper Price Movement on Mar. 1

SMM Insight 01:07:14PM Mar 01, 2012 Source:SMM

SHANGHAI, Mar. 1 (SMM) –Discounts on spot copper were reported between negative RMB 300-220/mt in Shanghai in Thursday’s morning business. Traded prices for standard-quality copper were between RMB 59,600-59,800/mt, and RMB 59,650-59,900/mt for high-quality copper. SHFE copper prices moved higher after a low open, boosting spot copper cargo-holder optimism towards future copper prices. Spot copper discounts fell significantly since supply decreased. Traders chose opportunities to enter the market, while downstream producers increased buying at low prices. As a consequence, market transactions improved some on the first trading day of March.