Spot Copper Price Movement on Jun. 13-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Aluminium
  • Copper scrap
  • Primary lead
  • Copper
  • Customs data
  • Market commentary
  • price forecast
  • Nickel
  • MMi Iron Ore Port Index
  • Inventory data
  • Futures movement
  • Evening comments
  • Secondary lead
  • Morning comments

Spot Copper Price Movement on Jun. 13

SMM Insight 01:06:00PM Jun 13, 2012 Source:SMM

SHANGHAI, Jun. 13 (SMM) – Spot copper premiums were quoted between positive RMB 70-140/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 54,780-54,820/mt, and RMB 54,820-54,900/mt for high-quality copper. SHFE copper prices rebounded marginally, with the price spread between SHFE 1206 and 1207 copper contract still standing around RMB 400/mt. Cargo-holders in spot markets thus were actively moving goods, resulting in sufficient market supply. Spot copper premiums continued to fall in consequence. Traders tried to bid down premiums on high-quality copper, contributing the most to market transactions. Downstream producers, though, still sourced to order. Therefore, overall market supply still exceeded demand. 
 

Price

more
1# Zinc
May.24
20530.0
-160.0
(-0.77%)
0# Zinc
May.24
20600.0
-160.0
(-0.77%)
T/C for domestic zinc concentrate
Jun.01
6350.0
0.0
(0.00%)
T/C for imported zinc concentrate
Jun.01
240.0
0.0
(0.00%)
Zinc Alloy (Zamak3/ZX01)
May.24
21500.0
-160.0
(-0.74%)

Spot Copper Price Movement on Jun. 13

SMM Insight 01:06:00PM Jun 13, 2012 Source:SMM

SHANGHAI, Jun. 13 (SMM) – Spot copper premiums were quoted between positive RMB 70-140/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 54,780-54,820/mt, and RMB 54,820-54,900/mt for high-quality copper. SHFE copper prices rebounded marginally, with the price spread between SHFE 1206 and 1207 copper contract still standing around RMB 400/mt. Cargo-holders in spot markets thus were actively moving goods, resulting in sufficient market supply. Spot copper premiums continued to fall in consequence. Traders tried to bid down premiums on high-quality copper, contributing the most to market transactions. Downstream producers, though, still sourced to order. Therefore, overall market supply still exceeded demand.