Spot Copper Price Movement on Jun. 12-Shanghai Metals Market

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Spot Copper Price Movement on Jun. 12

SMM Insight 11:48:11AM Jun 12, 2012 Source:SMM

SHANGHAI, Jun. 12 (SMM) – Spot copper premiums were quoted between positive RMB 130-200/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 54,680-54,740/mt, and RMB 54,720-54,800/mt for high-quality copper. As SHFE copper prices slid by over 1%, market pessimism was growing. In this context, spot copper premiums also slipped as cargo-holders became more willing to move goods for cash and led to a continuous increase in market supply. However, both traders and downstream producers chose to stand on the sidelines, leading to more lackluster market activity compared with the previous day.
 

Price

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62% Fe Fines (Qingdao Port): IOPI62
May.17
729.0
17.0
(2.39%)
62% Fe Fines (Qingdao Port, CFR Equiv.)
May.17
97.9
2.1
(2.22%)
58% Fe Fines (Qingdao Port): IOPI58
May.17
624.0
2.0
(0.32%)
58% Fe Fines (Qingdao Port, CFR Equiv.)
May.17
84.2
0.1
(0.08%)
65% Fe Fines (Qingdao Port): IOPI65
May.17
813.0
24.0
(3.04%)

Spot Copper Price Movement on Jun. 12

SMM Insight 11:48:11AM Jun 12, 2012 Source:SMM

SHANGHAI, Jun. 12 (SMM) – Spot copper premiums were quoted between positive RMB 130-200/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 54,680-54,740/mt, and RMB 54,720-54,800/mt for high-quality copper. As SHFE copper prices slid by over 1%, market pessimism was growing. In this context, spot copper premiums also slipped as cargo-holders became more willing to move goods for cash and led to a continuous increase in market supply. However, both traders and downstream producers chose to stand on the sidelines, leading to more lackluster market activity compared with the previous day.