Shanghai Spot Copper Price Movement on May 14-Shanghai Metals Market

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Shanghai Spot Copper Price Movement on May 14

SMM Insight 01:12:00PM May 14, 2012 Source:SMM

SHANGHAI, May 14 (SMM) – Offers for spot copper premiums were between positive RMB 10-80/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 57,050-57,150/mt, and RMB 57,120-57,250/mt for high-quality copper. As SHFE copper prices trended lower after a high open, and as the delivery date for SHFE 1205 copper contract nears, cargo-holders insisted on premium quotes, despite sluggish market transactions. Copper prices fell by more than RMB 500/mt after 10 am, so hedged copper came into markets in large quantities, causing spot copper premiums to slide. Bearish sentiment was growing in markets.
 

Key Words:  shanghai spot copper  

Price

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Aluminum Ingot
Oct.22
13930.0
-30.0
(-0.21%)
Aluminum Ingot - Fo Shan
Oct.22
13860.0
-60.0
(-0.43%)
Aluminum Ingot - Wu Xi
Oct.22
13930.0
-40.0
(-0.29%)
Aluminum Ingot - Hang Zhou
Oct.22
13940.0
-55.0
(-0.39%)
Aluminum Ingot - Chong Qing
Oct.22
13910.0
-40.0
(-0.29%)

Shanghai Spot Copper Price Movement on May 14

SMM Insight 01:12:00PM May 14, 2012 Source:SMM

SHANGHAI, May 14 (SMM) – Offers for spot copper premiums were between positive RMB 10-80/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 57,050-57,150/mt, and RMB 57,120-57,250/mt for high-quality copper. As SHFE copper prices trended lower after a high open, and as the delivery date for SHFE 1205 copper contract nears, cargo-holders insisted on premium quotes, despite sluggish market transactions. Copper prices fell by more than RMB 500/mt after 10 am, so hedged copper came into markets in large quantities, causing spot copper premiums to slide. Bearish sentiment was growing in markets.
 

Key Words:  shanghai spot copper