Shanghai Spot Copper Price Movement on Apr. 10

SMM Insight 12:04:01PM Apr 10, 2012 Source:SMM

SHANGHAI, Apr. 10 (SMM) –Quotations for spot copper turned to premiums of RMB 0-60/mt in Shanghai in the morning business Tuesday. Traded prices for standard-quality copper were between RMB 59,100-59,280/mt, and RMB 59,150-59,350/mt for high-quality copper. SHFE copper prices trended lower after a low open, helping spot copper offers hold above premiums of positive RMB 0/mt. Near the midday, China announced the latest copper import and export data slid from the previous month, sending SHFE current-month copper contract prices down towards RMB 59,000/mt. Traders and downstream producers in spot markets significantly increased purchases at lower price levels. 
 

Shanghai Spot Copper Price Movement on Apr. 10

SMM Insight 12:04:01PM Apr 10, 2012 Source:SMM

SHANGHAI, Apr. 10 (SMM) –Quotations for spot copper turned to premiums of RMB 0-60/mt in Shanghai in the morning business Tuesday. Traded prices for standard-quality copper were between RMB 59,100-59,280/mt, and RMB 59,150-59,350/mt for high-quality copper. SHFE copper prices trended lower after a low open, helping spot copper offers hold above premiums of positive RMB 0/mt. Near the midday, China announced the latest copper import and export data slid from the previous month, sending SHFE current-month copper contract prices down towards RMB 59,000/mt. Traders and downstream producers in spot markets significantly increased purchases at lower price levels.