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Spot Copper Price Movement (2012-10-29)
Oct 29,2012 13:32CST
smm insight
Source:SMM
Spot copper discounts were negative RMB 100-220/mt in Shanghai in the morning business.

SHANGHAI, Oct. 29 (SMM) – Spot copper discounts were negative RMB 100-220/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 56,750-56,850/mt, and RMB 56,830-56,950/mt for high-quality copper. As SHFE copper prices fluctuated weakly, investors’ wait-and-see sentiment grew and caused spot copper discounts to expand. Some traders chose to buy high-quality copper at large discounts, while downstream producers were cautious to enter markets, resulting in muted market activity.
 

Shanghai spot copper
Shanghai copper discounts

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