Spot Copper Price Movement on Jul. 11-Shanghai Metals Market

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Spot Copper Price Movement on Jul. 11

SMM Insight 11:56:41AM Jul 11, 2012 Source:SMM

SHANGHAI, Jul. 11 (SMM) – Spot copper offers were between premiums of positive RMB 20-100/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 55,500-55,560/mt, and RMB 55,550-55,630/mt for high-quality copper. As SHFE copper prices lurched weakly in the morning, the SHFE/LME copper price ratio continued to improve and helped spot copper supply remain sufficient. In this context, spot copper premiums stabilized and market activity for high-quality copper became more active. Near the midday, SHFE copper prices dropped rapidly by RMB 200/mt, so spot copper premiums rose. Downstream producers continued to source to need, and market transactions thus were largely contributed by traders.

 

Spot Copper Price Movement on Jul. 11

SMM Insight 11:56:41AM Jul 11, 2012 Source:SMM

SHANGHAI, Jul. 11 (SMM) – Spot copper offers were between premiums of positive RMB 20-100/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 55,500-55,560/mt, and RMB 55,550-55,630/mt for high-quality copper. As SHFE copper prices lurched weakly in the morning, the SHFE/LME copper price ratio continued to improve and helped spot copper supply remain sufficient. In this context, spot copper premiums stabilized and market activity for high-quality copper became more active. Near the midday, SHFE copper prices dropped rapidly by RMB 200/mt, so spot copper premiums rose. Downstream producers continued to source to need, and market transactions thus were largely contributed by traders.