Spot Copper Price Movement on Jun. 19-Shanghai Metals Market

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Spot Copper Price Movement on Jun. 19

SMM Insight 11:55:02AM Jun 19, 2012 Source:SMM

SHANGHAI, Jun. 19 (SMM) – Spot copper premium quotes were between positive RMB 250-320/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 55,830-55,870/mt, and RMB 55,850-55,950/mt for high-quality copper. SHFE copper prices fluctuated in a narrow band. As some traders in spot markets bought copper in large quantities, cargo-holders held prices firm and helped copper premiums rise all the way. Downstream producers still sourced to order. Overall spot copper market activity, though, kept active in the morning. However, as copper premiums increased near the midday, purchases at prices near RMB 56,000/mt slowed noticeably, turning market participants cautious again.
 

Price

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#1 Refined Cu
May.20
47795.0
-105.0
(-0.22%)
Standard-Grade Copper
May.20
47765.0
-105.0
(-0.22%)
High-Grade Copper
May.20
47825.0
-100.0
(-0.21%)
Guixi copper
May.20
47830.0
-110.0
(-0.23%)
Low-quality copper
May.20
47690.0
-115.0
(-0.24%)

Spot Copper Price Movement on Jun. 19

SMM Insight 11:55:02AM Jun 19, 2012 Source:SMM

SHANGHAI, Jun. 19 (SMM) – Spot copper premium quotes were between positive RMB 250-320/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 55,830-55,870/mt, and RMB 55,850-55,950/mt for high-quality copper. SHFE copper prices fluctuated in a narrow band. As some traders in spot markets bought copper in large quantities, cargo-holders held prices firm and helped copper premiums rise all the way. Downstream producers still sourced to order. Overall spot copper market activity, though, kept active in the morning. However, as copper premiums increased near the midday, purchases at prices near RMB 56,000/mt slowed noticeably, turning market participants cautious again.