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.
 

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.