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Spot Copper Price Movement on Jul. 19
Jul 19,2012 13:04CST
smm insight
Source:SMM
Spot copper offers were between premiums of positive RMB 20-100/mt in Shanghai in the morning business.

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.
 

Shanghai spot copper
Shanghai copper premium

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