Spot Copper Price Movement on Jun. 27

SMM Insight 11:57:56AM Jun 27, 2012 Source:SMM

SHANGHAI, Jun. 27 (SMM) –Spot copper premium quotes were between positive RMB 100-200/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 54,500-54,600/mt, and RMB 54,550-54,680/mt for high-quality copper. SHFE copper prices extended losses, so hedged copper came into spot markets. Cargo-holders were generally eager to move goods at the month-end, choosing to cut premiums immediately following the opening. Spot copper premiums thus slipped rapidly. Downstream producers and traders were hesitant to buy owing to tight cash flows as well as bearish sentiment, leading to weak market activity.  

 

 

Spot Copper Price Movement on Jun. 27

SMM Insight 11:57:56AM Jun 27, 2012 Source:SMM

SHANGHAI, Jun. 27 (SMM) –Spot copper premium quotes were between positive RMB 100-200/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 54,500-54,600/mt, and RMB 54,550-54,680/mt for high-quality copper. SHFE copper prices extended losses, so hedged copper came into spot markets. Cargo-holders were generally eager to move goods at the month-end, choosing to cut premiums immediately following the opening. Spot copper premiums thus slipped rapidly. Downstream producers and traders were hesitant to buy owing to tight cash flows as well as bearish sentiment, leading to weak market activity.