Spot Copper Price Movement on May 22-Shanghai Metals Market

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Spot Copper Price Movement on May 22

SMM Insight 01:07:57PM May 22, 2012 Source:SMM

SHANGHAI, May 22 (SMM) – Spot copper premiums were quoted between positive RMB 200-260/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 56,650-56,750/mt, and RMB 56,700-56,830/mt for high-quality copper. SHFE copper prices met resistance to rebound, and selling pressures for forward copper contracts increased. Cargo-holders in spot copper markets became more willing to move goods, allowing copper supply to remain stable. But both downstream producers and traders stood on the sidelines, resulting in a drop in market transactions.
 

Price

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#1 Lead
Sep.19
16825.0
50.0
(0.30%)
#1 Lead - Guangdong
Sep.18
16825.0
-150.0
(-0.88%)
#1 Lead - Henan
Sep.18
16800.0
-175.0
(-1.03%)
#1 Lead -Tianjin
Sep.18
16725.0
-200.0
(-1.18%)
#2 Lead
Sep.19
16650.0
75.0
(0.45%)

Spot Copper Price Movement on May 22

SMM Insight 01:07:57PM May 22, 2012 Source:SMM

SHANGHAI, May 22 (SMM) – Spot copper premiums were quoted between positive RMB 200-260/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 56,650-56,750/mt, and RMB 56,700-56,830/mt for high-quality copper. SHFE copper prices met resistance to rebound, and selling pressures for forward copper contracts increased. Cargo-holders in spot copper markets became more willing to move goods, allowing copper supply to remain stable. But both downstream producers and traders stood on the sidelines, resulting in a drop in market transactions.