Shanghai Spot Copper Price Movement on Mar. 1-Shanghai Metals Market

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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. 
 

Price

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#1 Refined Cu
Apr.19
49430.0
-170.0
(-0.34%)
Yangshan Copper Premium(Bill of Lading)
Apr.19
51.5
0.0
(0.00%)
Yangshan Copper Premium(Warehouse Warrant)
Apr.19
50.5
0.0
(0.00%)
Imported Cu Concentrate TC(Cu≥26%,Week)
Apr.19
67.0
-1.5
(-2.19%)
Imported Cu Concentrate TC(Cu≥26%,Month)
Mar.29
73.5
-6.0
(-7.55%)

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.