Spot Copper Price Movement (2013-1-24)-Shanghai Metals Market

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Spot Copper Price Movement (2013-1-24)

SMM Insight 12:12:07PM Jan 24, 2013 Source:SMM

SHANGHAI, Jan. 24 (SMM) –Shanghai spot copper discounts were between negative RMB 120-220/mt in the morning business. Traded prices for standard-quality copper were between RMB 57,850-57,900/mt, and RMB 57,920-57,980/mt for high-quality copper. SHFE copper prices fluctuated near current levels, but spot copper cargo-holders became more willing to move goods at highs ahead of the Chinese New Year holiday, keeping spot copper supply sufficient. High-quality copper dominated market supply, but domestic standard-quality copper insisted on firm prices due to limited supply. Some traders opted to enter markets near the midday when copper futures prices fell, helping boost market transactions. Downstream producers continued sourcing to need. Overall market transactions rose after initially dropping.
 

Price

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SMM #1 Nickel
Oct.21
128600.0
-2400.0
(-1.83%)
#1 JinChuan Nickel
Oct.18
131150.0
-450.0
(-0.34%)
#1 Import Nickel
Oct.18
130850.0
-500.0
(-0.38%)
JinChuan B&C
Oct.18
4550.0
1450.0
(46.77%)
Russian nickel premium
Oct.18
4350.0
1400.0
(47.46%)

Spot Copper Price Movement (2013-1-24)

SMM Insight 12:12:07PM Jan 24, 2013 Source:SMM

SHANGHAI, Jan. 24 (SMM) –Shanghai spot copper discounts were between negative RMB 120-220/mt in the morning business. Traded prices for standard-quality copper were between RMB 57,850-57,900/mt, and RMB 57,920-57,980/mt for high-quality copper. SHFE copper prices fluctuated near current levels, but spot copper cargo-holders became more willing to move goods at highs ahead of the Chinese New Year holiday, keeping spot copper supply sufficient. High-quality copper dominated market supply, but domestic standard-quality copper insisted on firm prices due to limited supply. Some traders opted to enter markets near the midday when copper futures prices fell, helping boost market transactions. Downstream producers continued sourcing to need. Overall market transactions rose after initially dropping.