Shanghai Spot Copper Price Movement on May 17-Shanghai Metals Market

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Shanghai Spot Copper Price Movement on May 17

SMM Insight 01:09:38PM May 17, 2012 Source:SMM

SHANGHAI, May 17 (SMM) – Quotations for spot copper premiums were between positive RMB 180-250/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 55,700-55,900/mt, and RMB 55,750-55,970/mt for high-quality copper. SHFE copper prices rallied from the previous lows. Cargo-holders in spot markets became unwilling to move goods at the lows, helping spot copper premiums rise sharply. Downstream producers bought aggressively at prices below RMB 56,000/mt, but chose to stand on the sidelines after copper prices climbed rapidly near the midday. In this context, spot copper premiums inched down, and market transactions were also restricted.

 

Key Words:  shanghai spot copper  

Price

more
62% Fe Fines (Qingdao Port): IOPI62
Oct.18
705.0
-8.0
(-1.12%)
62% Fe Fines (Qingdao Port, CFR Equiv.)
Oct.18
92.1
-1.0
(-1.03%)
58% Fe Fines (Qingdao Port): IOPI58
Oct.18
624.0
-2.0
(-0.32%)
58% Fe Fines (Qingdao Port, CFR Equiv.)
Oct.18
82.0
-0.2
(-0.19%)
65% Fe Fines (Qingdao Port): IOPI65
Oct.18
745.0
-5.0
(-0.67%)

Shanghai Spot Copper Price Movement on May 17

SMM Insight 01:09:38PM May 17, 2012 Source:SMM

SHANGHAI, May 17 (SMM) – Quotations for spot copper premiums were between positive RMB 180-250/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 55,700-55,900/mt, and RMB 55,750-55,970/mt for high-quality copper. SHFE copper prices rallied from the previous lows. Cargo-holders in spot markets became unwilling to move goods at the lows, helping spot copper premiums rise sharply. Downstream producers bought aggressively at prices below RMB 56,000/mt, but chose to stand on the sidelines after copper prices climbed rapidly near the midday. In this context, spot copper premiums inched down, and market transactions were also restricted.

 

Key Words:  shanghai spot copper