Spot Copper Price Movement (2012-11-22)-Shanghai Metals Market

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Spot Copper Price Movement (2012-11-22)

SMM Insight 11:59:51AM Nov 22, 2012 Source:SMM

SHANGHAI, Nov. 22 (SMM) – Spot copper discounts were negative RMB 0-80/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 55,900-55,950/mt, and RMB 55,960-56,050/mt for high-quality copper. SHFE copper prices rose slower than LME copper, causing the SHFE/LME copper price ratio to fall quickly. Imported copper supply decreased as a result. Spot copper cargo-holders continued moving goods for cash, but overall market trading sentiment was cautious. In the face of abundant market supply, spot copper offers turned to discounts, which were forced to expand gradually. Market transactions were still limited. 

 

Spot Copper Price Movement (2012-11-22)

SMM Insight 11:59:51AM Nov 22, 2012 Source:SMM

SHANGHAI, Nov. 22 (SMM) – Spot copper discounts were negative RMB 0-80/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 55,900-55,950/mt, and RMB 55,960-56,050/mt for high-quality copper. SHFE copper prices rose slower than LME copper, causing the SHFE/LME copper price ratio to fall quickly. Imported copper supply decreased as a result. Spot copper cargo-holders continued moving goods for cash, but overall market trading sentiment was cautious. In the face of abundant market supply, spot copper offers turned to discounts, which were forced to expand gradually. Market transactions were still limited.