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Spot Copper Price Movement (2012-11-22)
Nov 22,2012 11:59CST
smm insight
Shanghai spot copper discounts were negative RMB 0-80/mt in the morning business, and market transactions remained limited.

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. 


Shanghai spot copper
Shanghai copper premiums

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