Home / Metal News / Steel & Iron Ore / Shanghai Spot Copper Price Movement on May 17
Shanghai Spot Copper Price Movement on May 17
May 17,2012 13:09CST
smm insight
Source:SMM
Quotations for spot copper premiums were between positive RMB 180-250/mt in Shanghai in the morning business.

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.

 

shanghai spot copper

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn