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Shanghai Spot Copper Price Movement on Mar. 2
Mar 2,2012 13:05CST
smm insight
Source:SMM
Discounts on spot copper were reported between negative RMB 300-200/mt in Shanghai in Friday's morning business.

SHANGHAI, Mar. 2 (SMM) –Discounts on spot copper were reported between negative RMB 300-200/mt in Shanghai in Friday's morning business. Traded prices for standard-quality copper were between RMB 60,150-60,350/mt, and RMB 60,250-60,450/mt for high-quality copper. SHFE copper prices moved higher after a high open, so some hedged copper was locked, helping spot copper prices hold firm. Domestic copper smelters increased sales volumes due to the falling copper discounts. Market supply was dominated by high-quality copper, and the supply of low-quality copper decreased sharply. Traders were actively buying at low price levels in the morning session, while downstream producers stood on the sidelines as traded prices stood above RMB 60,000/mt, keeping market activity quiet.
 

spot copper price movement in Shanghai

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