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Shanghai Spot Copper Price Movement on Apr. 25
Apr 25,2012 11:59CST
smm insight
Source:SMM
Discounts on spot copper were quoted between negative RMB 60-0/mt in Shanghai in the morning business.

SHANGHAI, Apr. 25 (SMM) –Discounts on spot copper were quoted between negative RMB 60-0/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 57,530-57,570/mt, and RMB 57,570-57,650/mt for high-quality copper. As SHFE copper prices rebounded slightly, some hedged copper was locked. The SHFE/LME copper price ratio slid further, so cargo-holders of imported copper chose to withhold goods, leading to a drop in spot copper supply. The price gap among all SHFE copper contracts remained nearly zero, leaving no speculative room. Due to uncertainties in future copper price trends, downstream producers continued to keep cautious. Market activity stagnated as a result.





 

spot copper price movement

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