Spot Copper Price Movement on Jun. 18-Shanghai Metals Market

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Spot Copper Price Movement on Jun. 18

SMM Insight 01:24:46PM Jun 18, 2012 Source:SMM

SHANGHAI, Jun. 18 (SMM) – Spot copper was quoted between discounts of negative RMB 150-250/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 55,650-55,750/mt, and RMB 55,680-55,850/mt for high-quality copper. SHFE copper prices rebounded, and spot copper offers turned into premiums after SHFE 1206 copper contract was delivered. Cargo-holders in spot markets quoted prices a little late and held prices firm at the lows. They especially offered high premiums to move goods near the midday. However, some traders increased purchase volumes voluntarily owing to optimism towards future copper prices, contributing the most to market transactions. Downstream producers, though, kept on the sidelines since they were skeptical over continuous copper price rebounds.  
 

Price

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62% Fe Fines (Qingdao Port): IOPI62
May.27
787.0
29.0
(3.83%)
62% Fe Fines (Qingdao Port, CFR Equiv.)
May.27
106.0
4.2
(4.10%)
58% Fe Fines (Qingdao Port): IOPI58
May.27
666.0
22.0
(3.42%)
58% Fe Fines (Qingdao Port, CFR Equiv.)
May.27
90.0
3.2
(3.67%)
65% Fe Fines (Qingdao Port): IOPI65
May.27
881.0
15.0
(1.73%)

Spot Copper Price Movement on Jun. 18

SMM Insight 01:24:46PM Jun 18, 2012 Source:SMM

SHANGHAI, Jun. 18 (SMM) – Spot copper was quoted between discounts of negative RMB 150-250/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 55,650-55,750/mt, and RMB 55,680-55,850/mt for high-quality copper. SHFE copper prices rebounded, and spot copper offers turned into premiums after SHFE 1206 copper contract was delivered. Cargo-holders in spot markets quoted prices a little late and held prices firm at the lows. They especially offered high premiums to move goods near the midday. However, some traders increased purchase volumes voluntarily owing to optimism towards future copper prices, contributing the most to market transactions. Downstream producers, though, kept on the sidelines since they were skeptical over continuous copper price rebounds.