Spot Copper Price Movement on Jun. 14-Shanghai Metals Market

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Spot Copper Price Movement on Jun. 14

SMM Insight 01:10:19PM Jun 14, 2012 Source:SMM

SHANGHAI, Jun. 14 (SMM) – Spot copper premiums were quoted between positive RMB 20-100/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 54,700-55,000/mt, and RMB 54,750-55,100/mt for high-quality copper. SHFE copper prices started lower, but the SHFE/LME copper price ratio continued to improve, propelling cargo-holders in spot markets to move goods for cash. However, domestic copper cargo-holders were unwilling to sell. Some traders opted to buy owing to a drop in premiums on high-quality copper, while the price differential between SHFE 1206 and 1207 copper contract prevailed. Downstream producers, though, kept on their toes. SHFE copper prices rose rapidly by nearly RMB 300/mt near the midday, restricting spot copper market activity. Spot copper premiums fell sharply to below positive RMB 100/mt, and market transactions stagnated at prices above RMB 55,000/mt.
 

Price

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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. 14

SMM Insight 01:10:19PM Jun 14, 2012 Source:SMM

SHANGHAI, Jun. 14 (SMM) – Spot copper premiums were quoted between positive RMB 20-100/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 54,700-55,000/mt, and RMB 54,750-55,100/mt for high-quality copper. SHFE copper prices started lower, but the SHFE/LME copper price ratio continued to improve, propelling cargo-holders in spot markets to move goods for cash. However, domestic copper cargo-holders were unwilling to sell. Some traders opted to buy owing to a drop in premiums on high-quality copper, while the price differential between SHFE 1206 and 1207 copper contract prevailed. Downstream producers, though, kept on their toes. SHFE copper prices rose rapidly by nearly RMB 300/mt near the midday, restricting spot copper market activity. Spot copper premiums fell sharply to below positive RMB 100/mt, and market transactions stagnated at prices above RMB 55,000/mt.