Spot Copper Price Movement (2012-12-13)-Shanghai Metals Market

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Spot Copper Price Movement (2012-12-13)

SMM Insight 01:20:49PM Dec 13, 2012 Source:SMM

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.
 

Price

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Aluminum Ingot
Sep.20
14280.0
10.0
(0.07%)
Aluminum Ingot - Fo Shan
Sep.20
14320.0
20.0
(0.14%)
Aluminum Ingot - Wu Xi
Sep.20
14280.0
15.0
(0.11%)
Aluminum Ingot - Hang Zhou
Sep.20
14305.0
15.0
(0.10%)
Aluminum Ingot - Chong Qing
Sep.20
14310.0
10.0
(0.07%)

Spot Copper Price Movement (2012-12-13)

SMM Insight 01:20:49PM Dec 13, 2012 Source:SMM

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.