Spot Copper Price Movement (2013-1-15)-Shanghai Metals Market

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Spot Copper Price Movement (2013-1-15)

SMM Insight 11:57:23AM Jan 15, 2013 Source:SMM

SHANGHAI, Jan. 15 (SMM) –Shanghai spot copper offers were between discounts of negative RMB 20/mt and premiums of positive RMB 100/mt in the morning business. Traded prices for standard-quality copper were between RMB 57,470-57,510/mt, and RMB 57,550-57,630/mt for high-quality copper. As SHFE copper prices slid by around RMB 300/mt, hedged copper flew into spot markets and dominated spot copper supply. Cargo-holders insisted on firm prices during the last trading day for SHFE 1301 copper contracts, helping copper premiums increase during the second trading session. The price differential between SHFE 1301 and 1302 copper contracts was still roughly RMB 300/mt. Some traders took advantages to enter markets, while downstream producers bought as needed at lows, resulting in modest market transactions.

 

Price

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SMM #1 Nickel
Oct.16
134400.0
550.0
(0.41%)
#1 JinChuan Nickel
Oct.16
134550.0
500.0
(0.37%)
#1 Import Nickel
Oct.16
134250.0
600.0
(0.45%)
JinChuan B&C
Oct.16
2450.0
250.0
(11.36%)
Russian nickel premium
Oct.16
2150.0
250.0
(13.16%)

Spot Copper Price Movement (2013-1-15)

SMM Insight 11:57:23AM Jan 15, 2013 Source:SMM

SHANGHAI, Jan. 15 (SMM) –Shanghai spot copper offers were between discounts of negative RMB 20/mt and premiums of positive RMB 100/mt in the morning business. Traded prices for standard-quality copper were between RMB 57,470-57,510/mt, and RMB 57,550-57,630/mt for high-quality copper. As SHFE copper prices slid by around RMB 300/mt, hedged copper flew into spot markets and dominated spot copper supply. Cargo-holders insisted on firm prices during the last trading day for SHFE 1301 copper contracts, helping copper premiums increase during the second trading session. The price differential between SHFE 1301 and 1302 copper contracts was still roughly RMB 300/mt. Some traders took advantages to enter markets, while downstream producers bought as needed at lows, resulting in modest market transactions.