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Spot Copper Price Movement (2012-10-12)
Oct 12,2012 13:07CST
smm insight
Source:SMM
Spot copper discounts were negative RMB 20-220/mt in Shanghai in the morning business.

SHANGHAI, Oct. 12 (SMM) – Spot copper discounts were negative RMB 20-220/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 58,980-59,120/mt, and RMB 59,100-59,320/mt for high-quality copper. SHFE copper prices fell after initially rising, but spot copper supply was stable. Some traders bought spot copper and sold SHFE copper contracts, and the price gap between standard and high-quality copper was still relatively high. High-quality copper cargo-holders became unwilling to move goods near the midday when copper prices dipped rapidly, while standard-quality copper cargo-holders had no intention of narrowing discounts but remained willing to sell, widening their price gap further. Downstream producers continued sourcing to order, but overall market transactions increased first and then fell.

 

Shanghai spot copper
Shanghai copper discounts

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