Spot Copper Price Movement (2013-1-10)-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • NPI
  • Zinc
  • hydrogen stations
  • Market commentary
  • Copper
  • thép
  • Production data
  • Aluminium
  • Stainless steel
  • Macroeconomics
  • Morning comments
  • Mengtai Group
  • Lithium
  • Iron ore

Spot Copper Price Movement (2013-1-10)

SMM Insight 01:47:40PM Jan 10, 2013 Source:SMM

SHANGHAI, Jan. 10 (SMM) –Shanghai spot copper discounts were negative RMB 20-140/mt in the morning business. Traded prices for standard-quality copper were between RMB 57,600-57,640/mt, and RMB 57,660-57,740/mt for high-quality copper. SHFE copper prices rebounded on strong Chinese trade data, so some hedged copper was locked out of spot markets, leading spot copper supply to decrease. Cargo-holders thus narrowed discounts to move goods. Speculators made purchased in small quantities ahead of deliveries for SHFE 1301 copper contracts, while downstream producers still conducted limited transactions. Hence, market deals were largely contributed by traders. 
 

Price

more
#1 Refined Cu
Oct.14
47080.0
20.0
(0.04%)
Standard-Grade Copper
Oct.14
47070.0
20.0
(0.04%)
High-Grade Copper
Oct.14
47090.0
20.0
(0.04%)
Guixi copper
Oct.14
47100.0
25.0
(0.05%)
Low-quality copper
Oct.14
47025.0
30.0
(0.06%)

Spot Copper Price Movement (2013-1-10)

SMM Insight 01:47:40PM Jan 10, 2013 Source:SMM

SHANGHAI, Jan. 10 (SMM) –Shanghai spot copper discounts were negative RMB 20-140/mt in the morning business. Traded prices for standard-quality copper were between RMB 57,600-57,640/mt, and RMB 57,660-57,740/mt for high-quality copper. SHFE copper prices rebounded on strong Chinese trade data, so some hedged copper was locked out of spot markets, leading spot copper supply to decrease. Cargo-holders thus narrowed discounts to move goods. Speculators made purchased in small quantities ahead of deliveries for SHFE 1301 copper contracts, while downstream producers still conducted limited transactions. Hence, market deals were largely contributed by traders.