Spot Copper Price Movement on Jul. 6-Shanghai Metals Market

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Spot Copper Price Movement on Jul. 6

SMM Insight 01:06:25PM Jul 06, 2012 Source:SMM

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.
 

Key Words:  Shanghai spot copper  

Price

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SMM #1 Nickel
Aug.19
126050.0
-600.0
(-0.47%)
#1 JinChuan Nickel
Aug.19
126600.0
-600.0
(-0.47%)
#1 Import Nickel
Aug.19
125475.0
-575.0
(-0.46%)
JinChuan B&C
Aug.19
1250.0
0.0
(0.00%)
Russian nickel premium
Aug.19
125.0
0.0
(0.00%)

Spot Copper Price Movement on Jul. 6

SMM Insight 01:06:25PM Jul 06, 2012 Source:SMM

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.
 

Key Words:  Shanghai spot copper