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Spot Copper Price Movement on Jul. 6
Jul 6,2012 13:06CST
smm insight
Source:SMM
Spot copper offers were between discounts of negative RMB 50/mt and premiums of positive RMB 50/mt in Shanghai in the morning business.

SHANGHAI, Jul. 6 (SMM) – Spot copper offers were between discounts of negative RMB 50/mt and premiums of positive RMB 50/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 55,900-56,120/mt, and RMB 55,950-56,200/mt for high-quality copper. SHFE copper prices came under pressure and dipped and compelled cargo-holders in spot markets to step up sales volumes. They offered large discounts for low-quality copper but insisted on firm prices for high-quality copper owing to limited supply. In this context, the price spread between standard and high-quality copper widened. Downstream producers continued to buy on an as-needed basis as caution grew again in the face of uncertainty over copper price trends next week. Market transactions were restricted as a result.
 

Shanghai spot copper

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