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Spot Copper Price Movement (2012-10-26)
Oct 26,2012 13:22CST
smm insight
Source:SMM
Spot copper discounts were negative RMB 150-270/mt in Shanghai in the morning business, and market transactions improved.

SHANGHAI, Oct. 26 (SMM) – Spot copper discounts were negative RMB 150-270/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 56,950-57,000/mt, and RMB 57,000-57,100/mt for high-quality copper. As SHFE copper prices moved weakly after starting down, spot copper cargo-holders insisted on previous trading day’s discount quotes, and traders holding standard-quality copper were also unwilling to expand discounts. This caused spot copper supply to decrease but helped prices firm. The price gap between standard and high-quality copper narrowed. There were still some speculators choosing to enter markets at large discounts, while downstream buying also increased at prices below RMB 57,000/mt, helping improve market transactions.

 

Shanghai spot copper
Shanghai copper discounts

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