Spot Copper Price Movement on May 30-Shanghai Metals Market

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Spot Copper Price Movement on May 30

SMM Insight 01:09:48PM May 30, 2012 Source:SMM

SHANGHAI, May 30 (SMM) – Spot copper premiums were quoted between positive RMB 150-230/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 56,000-56,120/mt, and RMB 56,050-56,250/mt for high-quality copper. SHFE copper prices retreated sharply, and cargo-holders in spot markets sold aggressively, restricting spot copper premiums. Spot copper supply was diversified. Speculators without cash pressures chose to buy and favored high-quality copper, while downstream producers also made purchases at around RMB 56,000/mt. Overall transaction volumes remained light, though.
 

Key Words:  Shanghai spot copper  

Price

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Aluminum Ingot
Oct.21
13960.0
-40.0
(-0.29%)
Aluminum Ingot - Fo Shan
Oct.21
13920.0
-40.0
(-0.29%)
Aluminum Ingot - Wu Xi
Oct.21
13970.0
-30.0
(-0.21%)
Aluminum Ingot - Hang Zhou
Oct.21
13995.0
-45.0
(-0.32%)
Aluminum Ingot - Chong Qing
Oct.21
13950.0
-30.0
(-0.21%)

Spot Copper Price Movement on May 30

SMM Insight 01:09:48PM May 30, 2012 Source:SMM

SHANGHAI, May 30 (SMM) – Spot copper premiums were quoted between positive RMB 150-230/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 56,000-56,120/mt, and RMB 56,050-56,250/mt for high-quality copper. SHFE copper prices retreated sharply, and cargo-holders in spot markets sold aggressively, restricting spot copper premiums. Spot copper supply was diversified. Speculators without cash pressures chose to buy and favored high-quality copper, while downstream producers also made purchases at around RMB 56,000/mt. Overall transaction volumes remained light, though.
 

Key Words:  Shanghai spot copper