Spot Copper Price Movement (2013-2-5)-Shanghai Metals Market

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Spot Copper Price Movement (2013-2-5)

SMM Insight 12:07:15PM Feb 05, 2013 Source:SMM

SHANGHAI, Feb. 5 (SMM) –Shanghai spot copper discounts were quoted between negative RMB 140-280/mt in the morning business. Traded prices for standard-quality copper were between RMB 58,800-58,850/mt, and RMB 58,870-58,950/mt for high-quality copper. SHFE copper prices slipped slightly, but spot copper cargo-holders took the last chance to sell goods ahead of the Chinese New Year holiday, leading copper discounts to expand. However, cargo-holders of standard-quality copper became reluctant to insist on firm prices, so the price gap between standard and high-quality copper widened. Nevertheless, spot copper supply decreased after cargo-holders became less eager to move goods, which helped copper discounts shrink. More traders and downstream producers opted to exit from markets, turning market activity more lackluster.
 

Spot Copper Price Movement (2013-2-5)

SMM Insight 12:07:15PM Feb 05, 2013 Source:SMM

SHANGHAI, Feb. 5 (SMM) –Shanghai spot copper discounts were quoted between negative RMB 140-280/mt in the morning business. Traded prices for standard-quality copper were between RMB 58,800-58,850/mt, and RMB 58,870-58,950/mt for high-quality copper. SHFE copper prices slipped slightly, but spot copper cargo-holders took the last chance to sell goods ahead of the Chinese New Year holiday, leading copper discounts to expand. However, cargo-holders of standard-quality copper became reluctant to insist on firm prices, so the price gap between standard and high-quality copper widened. Nevertheless, spot copper supply decreased after cargo-holders became less eager to move goods, which helped copper discounts shrink. More traders and downstream producers opted to exit from markets, turning market activity more lackluster.