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
Oct.17
713.0
-28.0
(-3.78%)
62% Fe Fines (Qingdao Port, CFR Equiv.)
Oct.17
93.1
-3.9
(-3.98%)
58% Fe Fines (Qingdao Port): IOPI58
Oct.17
626.0
-9.0
(-1.42%)
58% Fe Fines (Qingdao Port, CFR Equiv.)
Oct.17
82.2
-1.3
(-1.55%)
65% Fe Fines (Qingdao Port): IOPI65
Oct.17
750.0
-28.0
(-3.60%)

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.