Spot Copper Price Movement on Jun. 21

SMM Insight 01:10:35PM Jun 21, 2012 Source:SMM

SHANGHAI, Jun. 21 (SMM) – Spot copper premium quotes were between positive RMB 300-380/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 55,360-55,430/mt, and RMB 55,400-56,480/mt for high-quality copper. SHFE copper prices fell considerably, while hedge traders in spot markets were eager to move goods for risk aversion ahead of the Dragon Boat Festival, leading to an increase in market supply. But spot copper premiums rose. Downstream producers kept on the sidelines, only buying at the lows. Hence, overall market activity improved some.
 

Key Words:  Shanghai spot copper  

Spot Copper Price Movement on Jun. 21

SMM Insight 01:10:35PM Jun 21, 2012 Source:SMM

SHANGHAI, Jun. 21 (SMM) – Spot copper premium quotes were between positive RMB 300-380/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 55,360-55,430/mt, and RMB 55,400-56,480/mt for high-quality copper. SHFE copper prices fell considerably, while hedge traders in spot markets were eager to move goods for risk aversion ahead of the Dragon Boat Festival, leading to an increase in market supply. But spot copper premiums rose. Downstream producers kept on the sidelines, only buying at the lows. Hence, overall market activity improved some.
 

Key Words:  Shanghai spot copper