Spot Copper Price Movement on Jul. 26-Shanghai Metals Market

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Spot Copper Price Movement on Jul. 26

SMM Insight 12:02:44PM Jul 26, 2012 Source:SMM

SHANGHAI, Jul. 26 (SMM) – Spot copper premium quotes were positive RMB 80-150/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 54,620-54,680/mt, and RMB 54,680-54,750/mt for high-quality copper. SHFE copper prices fluctuated weakly with the price gap among all SHFE copper contracts narrowing. The SHFE/LME copper price ratio fell considerably, but spot copper cargo-holders still stepped up sale volumes owing to growing bearish sentiment. This kept spot copper supply sufficient. Some traders chose to enter markets at the lows, while downstream producers continued buying as needed. Overall market transactions remained limited, though.
 

Key Words:  Shanghai spot copper  

Spot Copper Price Movement on Jul. 26

SMM Insight 12:02:44PM Jul 26, 2012 Source:SMM

SHANGHAI, Jul. 26 (SMM) – Spot copper premium quotes were positive RMB 80-150/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 54,620-54,680/mt, and RMB 54,680-54,750/mt for high-quality copper. SHFE copper prices fluctuated weakly with the price gap among all SHFE copper contracts narrowing. The SHFE/LME copper price ratio fell considerably, but spot copper cargo-holders still stepped up sale volumes owing to growing bearish sentiment. This kept spot copper supply sufficient. Some traders chose to enter markets at the lows, while downstream producers continued buying as needed. Overall market transactions remained limited, though.
 

Key Words:  Shanghai spot copper