Spot Copper Price Movement on May 28-Shanghai Metals Market

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Spot Copper Price Movement on May 28

SMM Insight 11:56:02AM May 28, 2012 Source:SMM

SHANGHAI, May 28 (SMM) – Spot copper premiums were quoted between positive RMB 120-200/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 56,520-56,700/mt, and RMB 56,550-56,750/mt for high-quality copper. SHFE copper prices trended higher after a high open, with a gain of over 1.5%, so cargo-holders in spot markets became more willing to move goods as March ends. Spot copper premium fell as a consequence. Downstream producers chose a wait-and-see stance during the first trading day of the week, still skeptical about a continuous copper price rebound, and also restricted by cash flow problems. Market activity was thus lackluster. 

 

Key Words:  Shanghai spot copper  

Price

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1# Silver ingots(99.99%)
Sep.23
4439.0
85.0
(1.95%)
2# Silver ingots(99.95%)
Sep.23
4424.0
85.0
(1.96%)
3# Silver ingots(99.90%)
Sep.23
4409.0
85.0
(1.97%)
Gold(99.99%)
Sep.20
345.1
1.6
(0.46%)
Gold(99.95%)
Sep.20
345.1
1.9
(0.55%)

Spot Copper Price Movement on May 28

SMM Insight 11:56:02AM May 28, 2012 Source:SMM

SHANGHAI, May 28 (SMM) – Spot copper premiums were quoted between positive RMB 120-200/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 56,520-56,700/mt, and RMB 56,550-56,750/mt for high-quality copper. SHFE copper prices trended higher after a high open, with a gain of over 1.5%, so cargo-holders in spot markets became more willing to move goods as March ends. Spot copper premium fell as a consequence. Downstream producers chose a wait-and-see stance during the first trading day of the week, still skeptical about a continuous copper price rebound, and also restricted by cash flow problems. Market activity was thus lackluster. 

 

Key Words:  Shanghai spot copper