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Spot Copper Price Movement (2012-10-23)
Oct 23,2012 12:05CST
smm insight
Source:SMM
Spot copper discounts were negative RMB 20-150/mt in Shanghai in the morning business, and market transactions were modest.

SHANGHAI, Oct. 23 (SMM) – Spot copper discounts were negative RMB 20-150/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 57,650-57,780/mt, and RMB 57,700-57,900/mt for high-quality copper. As SHFE copper prices moved lower all the way, market pessimism grew and hedged traders were eager to make profit-taking. Spot copper discounts thus expanded. Traders lacked buying interest, but downstream producers opted to buy at the lows near the midday, resulting in modest market transactions.
 

Shanghai spot copper
Shanghai copper discounts

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