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Shanghai Spot Copper Price Movement on Mar. 19
Mar 19,2012 13:07CST
smm insight
Source:SMM
Spot copper offers were quoted between discounts of negative RMB 320-220/mt in Shanghai in the morning business.

SHANGHAI, Mar. 19 (SMM) –Spot copper offers were quoted between discounts of negative RMB 320-220/mt in Shanghai in the 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 trended lower after a low open, so some hedged copper came into markets. Overall spot copper supply was sufficient as a result. Spot copper discounts failed to narrow amid falling copper prices since transaction volumes were restricted. Traders slowed their pace of purchasing due to cautious sentiment towards future copper prices, while downstream producers stayed on the sidelines, although copper prices slid below RMB 60,000/mt. Market activity therefore was quiet.  




 

spot copper price movement

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