Shanghai Spot Copper Price Movement on May 10-Shanghai Metals Market

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Shanghai Spot Copper Price Movement on May 10

SMM Insight 11:50:34AM May 10, 2012 Source:SMM

SHANGHAI, May 10 (SMM) – Offers for spot copper premiums were between positive RMB 20-100/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 57,680-57,750/mt, and RMB 57,720-57,820/mt for high-quality copper. As SHFE copper prices showed strong resilience, hedged copper was restricted. Overall spot copper supply, though, remained stable. Downstream producers continued to buy as needed, while traders only stepped up purchases at the tail of the morning trading session. Hence, transaction volumes were smaller than the previous day levels.

 

Key Words:  shanghai spot copper 

Price

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#1 Refined Cu
Sep.19
47460.0
-45.0
(-0.09%)
Standard-Grade Copper
Sep.19
47450.0
-45.0
(-0.09%)
High-Grade Copper
Sep.19
47470.0
-50.0
(-0.11%)
Guixi copper
Sep.19
47480.0
-45.0
(-0.09%)
Low-quality copper
Sep.19
47415.0
-30.0
(-0.06%)

Shanghai Spot Copper Price Movement on May 10

SMM Insight 11:50:34AM May 10, 2012 Source:SMM

SHANGHAI, May 10 (SMM) – Offers for spot copper premiums were between positive RMB 20-100/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 57,680-57,750/mt, and RMB 57,720-57,820/mt for high-quality copper. As SHFE copper prices showed strong resilience, hedged copper was restricted. Overall spot copper supply, though, remained stable. Downstream producers continued to buy as needed, while traders only stepped up purchases at the tail of the morning trading session. Hence, transaction volumes were smaller than the previous day levels.

 

Key Words:  shanghai spot copper