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Spot Copper Price Movement (2013-2-25)
Feb 25,2013 11:57CST
smm insight
Source:SMM
Shanghai spot copper discounts were RMB 80-200/mt in the morning business, but market transactions were modest.

SHANGHAI, Feb. 25 (SMM) – Shanghai spot copper discounts were RMB 80-200/mt in the morning business. Traded prices for standard-quality copper were between RMB 56,850-56,950/mt, and RMB 56,950-57,070/mt for high-quality copper. SHFE copper prices extended losses, but spot copper cargo-holders expressed strong willingness in moving goods for cash at the month’s end. Spot copper supply was thus diversified. Speculators entered markets and favored high-quality copper which held firm. Hence, the price differential between standard and high-quality copper widened. However, market pessimism was growing as SHFE copper continued falling, so downstream producers were not seen to replenish stocks at prices below RMB 57,000/mt. Market transactions were modest as a result.
 

Shanghai spot copper
Shanghai copper supply
Shanghai copper discounts

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