Spot Copper Price Movement (2012-12-13)

SHANGHAI, Dec. 13 (SMM) – Shanghai spot copper offers were discounts of negative RMB 20/mt and premiums of positive RMB 70/mt in the morning business. Traded prices for standard-quality copper were between RMB 57,130-57,170/mt, and RMB 57,180-57,250/mt for high-quality copper. As SHFE copper prices moved down after starting higher, the price gap between SHFE 1212 and 1301 copper contract remained above RMB 300/mt. In this context, premiums for high-quality copper increased to nearly positive RMB 70/mt. Cargo-holders were still willing to move goods for cash, while downstream producers stepped up purchases at the lows, helping improve market activity.