Home / Metal News /  / Spot Copper Price Movement (2013-1-11)
Spot Copper Price Movement (2013-1-11)
Jan 11,2013 11:58CST
smm insight
Source:SMM
Shanghai spot copper discounts were negative RMB 20-100/mt in the morning business, and market activity was muted.

SHANGHAI, Jan. 11 (SMM) –Shanghai spot copper discounts were negative RMB 20-100/mt in the morning business. Traded prices for standard-quality copper were between RMB 57,900-57,960/mt, and RMB 57,950-58,040/mt for high-quality copper. SHFE copper prices suffered resistance to move higher owing to high-than-expected Chinese inflationary data, so some hedged copper was locked out of spot markets. This resulted in limited spot copper supply, helping copper discounts narrow. Cargo-holders became more willing to move goods at highs. Traders who had enough credit chose to buy, while downstream producers refrained from purchasing at prices above RMB 58,000/mt. Spot copper market activity was muted as a result.
 

Shanghai spot copper
Shanghai copper discounts
Shanghai copper market
China inflation data

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn