Spot Copper Price Movement (2013-2-4)-Shanghai Metals Market

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Spot Copper Price Movement (2013-2-4)

SMM Insight 11:59:40AM Feb 04, 2013 Source:SMM

SHANGHAI, Feb. 4 (SMM) –Shanghai spot copper discounts were quoted between negative RMB 170-250/mt in the morning business. Traded prices for standard-quality copper were between RMB 59,020-59,080/mt, and RMB 59,070-59,150/mt for high-quality copper. With SHFE copper starting higher, copper discounts expanded. Some spot copper cargo-holders, especially imported copper cargo-holders, chose to sell aggressively at large discounts ahead of the Chinese New Year holiday, while hedged copper cargo-holders became reluctant to move goods. However, both traders and downstream producers mostly took a wait-and-see posture, resulting in muted market activity.
 

Price

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Aluminum Ingot
Dec.11
14130.0
20.0
(0.14%)
Aluminum Ingot - Fo Shan
Dec.11
14110.0
0.0
(0.00%)
Aluminum Ingot - Wu Xi
Dec.10
14100.0
30.0
(0.21%)
Aluminum Ingot - Hang Zhou
Dec.10
14110.0
25.0
(0.18%)
Aluminum Ingot - Chong Qing
Dec.10
14140.0
80.0
(0.57%)

Spot Copper Price Movement (2013-2-4)

SMM Insight 11:59:40AM Feb 04, 2013 Source:SMM

SHANGHAI, Feb. 4 (SMM) –Shanghai spot copper discounts were quoted between negative RMB 170-250/mt in the morning business. Traded prices for standard-quality copper were between RMB 59,020-59,080/mt, and RMB 59,070-59,150/mt for high-quality copper. With SHFE copper starting higher, copper discounts expanded. Some spot copper cargo-holders, especially imported copper cargo-holders, chose to sell aggressively at large discounts ahead of the Chinese New Year holiday, while hedged copper cargo-holders became reluctant to move goods. However, both traders and downstream producers mostly took a wait-and-see posture, resulting in muted market activity.