Shanghai Spot Copper Price Movement on May 4-Shanghai Metals Market

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Shanghai Spot Copper Price Movement on May 4

SMM Insight 01:09:19PM May 04, 2012 Source:SMM

SHANGHAI, May 4 (SMM) – Spot copper was quoted between premiums of positive RMB 30-100/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 58,150-58,280/mt, and RMB 58,180-58,320/mt for high-quality copper. SHFE copper prices moved higher after a low open, exhibiting strong resilience, so spot copper premiums slid after initially increasing. A premium near RMB 100/mt restricted speculative interest, while downstream producers still bought as needed given limited drops in copper prices. Market activity was comparatively modest at the lows in the morning, but become sluggish as copper prices moved higher.  
 

Price

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1# Silver ingots(99.99%)
Sep.23
4439.0
85.0
(1.95%)
2# Silver ingots(99.95%)
Sep.23
4424.0
85.0
(1.96%)
3# Silver ingots(99.90%)
Sep.23
4409.0
85.0
(1.97%)
Gold(99.99%)
Sep.20
345.1
1.6
(0.46%)
Gold(99.95%)
Sep.20
345.1
1.9
(0.55%)

Shanghai Spot Copper Price Movement on May 4

SMM Insight 01:09:19PM May 04, 2012 Source:SMM

SHANGHAI, May 4 (SMM) – Spot copper was quoted between premiums of positive RMB 30-100/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 58,150-58,280/mt, and RMB 58,180-58,320/mt for high-quality copper. SHFE copper prices moved higher after a low open, exhibiting strong resilience, so spot copper premiums slid after initially increasing. A premium near RMB 100/mt restricted speculative interest, while downstream producers still bought as needed given limited drops in copper prices. Market activity was comparatively modest at the lows in the morning, but become sluggish as copper prices moved higher.