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Shanghai Spot Copper Price Movement on Mar. 20
Mar 20,2012 13:07CST
smm insight
Source:SMM
Discounts on spot copper were quoted between negative RMB 330-230/mt in Shanghai in the morning business.

SHANGHAI, Mar. 20 (SMM) –Discounts on spot copper were quoted between negative RMB 330-230/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 59,450-59,600/mt, and RMB 59,550-59,850/mt for high-quality copper. SHFE copper prices trended down after a high open, and SHFE 1204 copper contract prices also fell after initially increasing. Spot copper supply remained sufficient, so copper discounts failed to narrow. Downstream producers increased buying at lower price levels, but wait-and-see sentiment still overshadowed markets. Market transactions remained limited as a result.
 

spot copper price movement

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