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Shanghai Spot Copper Price Movement on Apr. 24
Apr 24,2012 13:07CST
smm insight
Source:SMM
Discounts on spot copper were quoted between negative RMB 70-20/mt in Shanghai in the morning business.

SHANGHAI, Apr. 24 (SMM) –Discounts on spot copper were quoted between negative RMB 70-20/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 57,380-57,560/mt, and RMB 57,420-57,680/mt for high-quality copper. As SHFE copper prices experienced volatilities, the price gap among all SHFE copper contracts was reverted, leaving little speculative room. The SHFE/LME copper price ratio remained unfavorable, causing cargo-holders to reduce sale volumes. Spot copper supply thus decreased. Owing to cash flow problems at the month’s end, both traders and downstream producers stuck to the sidelines.
 

spot copper price movement

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