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Spot Copper Price Movement (2013-2-5)
Feb 5,2013 12:07CST
smm insight
Source:SMM
Shanghai spot copper discounts were quoted between negative RMB 140-280/mt in the morning business, and market activity became more lackluster.

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.
 

Shanghai spot copper
Shanghai copper supply
Shanghai copper discounts
China copper consumption

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