Spot Copper Price Movement on Jul. 30-Shanghai Metals Market

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Spot Copper Price Movement on Jul. 30

SMM Insight 01:04:00PM Jul 30, 2012 Source:SMM

SHANGHAI, Jul. 30 (SMM) – Spot copper premium quotes were positive RMB 20-100/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 55,450-55,530/mt, and RMB 55,480-55,630/mt for high-quality copper. As SHFE copper prices rebounded significantly, and as July ends, cargo-holders in spot markets were eager to move goods for cash, causing spot copper premiums to slip all the way. Cargo-holders of high-quality copper cut premiums first owing to relatively high supply. As SHFE forward copper contracts gained the rising momentum near the midday, low-quality copper cargo-holders in spot markets insisted on higher price quotations. Downstream producers took a wait-and-see posture during the first trading day of the week, and overall market transactions were restricted at high price levels. 

 

Price

more
1# Zinc
Aug.26
18600.0
0.0
(0.00%)
0# Zinc
Aug.26
18670.0
0.0
(0.00%)
T/C for domestic zinc concentrate
Aug.01
6325.0
0.0
(0.00%)
T/C for imported zinc concentrate
Aug.01
240.0
0.0
(0.00%)
Zinc Alloy (Zamak3/ZX01)
Aug.26
19570.0
0.0
(0.00%)

Spot Copper Price Movement on Jul. 30

SMM Insight 01:04:00PM Jul 30, 2012 Source:SMM

SHANGHAI, Jul. 30 (SMM) – Spot copper premium quotes were positive RMB 20-100/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 55,450-55,530/mt, and RMB 55,480-55,630/mt for high-quality copper. As SHFE copper prices rebounded significantly, and as July ends, cargo-holders in spot markets were eager to move goods for cash, causing spot copper premiums to slip all the way. Cargo-holders of high-quality copper cut premiums first owing to relatively high supply. As SHFE forward copper contracts gained the rising momentum near the midday, low-quality copper cargo-holders in spot markets insisted on higher price quotations. Downstream producers took a wait-and-see posture during the first trading day of the week, and overall market transactions were restricted at high price levels.