Spot Copper Price Movement on Jul. 19-Shanghai Metals Market

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Spot Copper Price Movement on Jul. 19

SMM Insight 01:04:11PM Jul 19, 2012 Source:SMM

SHANGHAI, Jul. 19 (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 55,950-56,030/mt, and RMB 56,000-56,100/mt for high-quality copper. SHFE copper prices met resistance to rebound and compelled cargo-holders in spot markets to sell for cash, keeping market supply sufficient. As there was no price gap among SHFE copper contracts, trader buying interest was restricted. Downstream producers, however, continued buying as needed, leading to modest market transactions.
 

Price

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#1 Refined Cu
Nov.19
46955.0
-70.0
(-0.15%)
Standard-Grade Copper
Nov.19
46945.0
-70.0
(-0.15%)
High-Grade Copper
Nov.19
46965.0
-65.0
(-0.14%)
Guixi Copper
Nov.19
46970.0
-65.0
(-0.14%)
Low-Quality Copper
Nov.19
46885.0
-75.0
(-0.16%)

Spot Copper Price Movement on Jul. 19

SMM Insight 01:04:11PM Jul 19, 2012 Source:SMM

SHANGHAI, Jul. 19 (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 55,950-56,030/mt, and RMB 56,000-56,100/mt for high-quality copper. SHFE copper prices met resistance to rebound and compelled cargo-holders in spot markets to sell for cash, keeping market supply sufficient. As there was no price gap among SHFE copper contracts, trader buying interest was restricted. Downstream producers, however, continued buying as needed, leading to modest market transactions.