Spot Copper Price Movement (2013-1-17)-Shanghai Metals Market

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Spot Copper Price Movement (2013-1-17)

SMM Insight 12:00:47PM Jan 17, 2013 Source:SMM

SHANGHAI, Jan. 17 (SMM) –Shanghai spot copper discounts were between negative RMB 120-180/mt in the morning business. Traded prices for standard-quality copper were between RMB 57,250-57,280/mt, and RMB 57,280-57,350/mt for high-quality copper. As SHFE copper prices slipped, copper discounts shrank. Cargo-holders showed little reluctance in moving goods at lows, leading to a drop in market supply. Prices of domestic standard-quality copper held firm, so the price gap between standard and high-quality copper was limited. With wait-and-see sentiment dominating markets, downstream producers still sourced to need, resulting in market oversupply.
 

Spot Copper Price Movement (2013-1-17)

SMM Insight 12:00:47PM Jan 17, 2013 Source:SMM

SHANGHAI, Jan. 17 (SMM) –Shanghai spot copper discounts were between negative RMB 120-180/mt in the morning business. Traded prices for standard-quality copper were between RMB 57,250-57,280/mt, and RMB 57,280-57,350/mt for high-quality copper. As SHFE copper prices slipped, copper discounts shrank. Cargo-holders showed little reluctance in moving goods at lows, leading to a drop in market supply. Prices of domestic standard-quality copper held firm, so the price gap between standard and high-quality copper was limited. With wait-and-see sentiment dominating markets, downstream producers still sourced to need, resulting in market oversupply.