Spot Copper Price Movement on Jun. 28-Shanghai Metals Market

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Spot Copper Price Movement on Jun. 28

SMM Insight 01:14:43PM Jun 28, 2012 Source:SMM

SHANGHAI, Jun. 28 (SMM) –Spot copper offers were between premiums of positive RMB 20/mt and discounts of negative RMB 80/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 54,700-54,850/mt, and RMB 54,750-54,900/mt for high-quality copper. SHFE copper prices rebounded by 1%, so spot copper premiums narrowed considerably, and some cargo-holders of standard-quality copper even offered discounts. Spot copper supply remained stable as cargo-holders were generally eager to move goods for cash. However, consumption remained sluggish, leaving market in surpluses. 

 

Price

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#1 Refined Cu
May.24
47010.0
210.0
(0.45%)
Standard-Grade Copper
May.24
46990.0
215.0
(0.46%)
High-Grade Copper
May.24
47030.0
210.0
(0.45%)
Guixi copper
May.24
47040.0
210.0
(0.45%)
Low-quality copper
May.24
46920.0
220.0
(0.47%)

Spot Copper Price Movement on Jun. 28

SMM Insight 01:14:43PM Jun 28, 2012 Source:SMM

SHANGHAI, Jun. 28 (SMM) –Spot copper offers were between premiums of positive RMB 20/mt and discounts of negative RMB 80/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 54,700-54,850/mt, and RMB 54,750-54,900/mt for high-quality copper. SHFE copper prices rebounded by 1%, so spot copper premiums narrowed considerably, and some cargo-holders of standard-quality copper even offered discounts. Spot copper supply remained stable as cargo-holders were generally eager to move goods for cash. However, consumption remained sluggish, leaving market in surpluses.