Spot Copper Price Movement (2013-2-26)-Shanghai Metals Market

Hot Keywords

  • Market commentary
  • Rare earth
  • Aluminium
  • Macroeconomics
  • Copper
  • Zinc
  • Sales data
  • Customs data
  • MMi Iron Ore Port Index
  • Inventory data
  • precious metals
  • Rare earths
  • Nickel
  • Iron ore
  • Futures movement

Spot Copper Price Movement (2013-2-26)

SMM Insight 11:56:28AM Feb 26, 2013 Source:SMM

SHANGHAI, Feb. 26 (SMM) – Shanghai spot copper discounts were RMB 80-220/mt in the morning business. Traded prices for standard-quality copper were between RMB 56,870-56,970/mt, and RMB 56,950-57,070/mt for high-quality copper. SHFE copper prices marched higher after starting lower, but spot copper cargo-holders held divergent views. Some cargo-holders were eager to move goods for cash and slashed price quotes, but others held prices firm. However, overall spot copper supply remained sufficient. Copper discounts remained basically stable in the morning, but expanded all the way near the midday when SHFE copper prices increased. Market activity improved as downstream buying increased.
 

Spot Copper Price Movement (2013-2-26)

SMM Insight 11:56:28AM Feb 26, 2013 Source:SMM

SHANGHAI, Feb. 26 (SMM) – Shanghai spot copper discounts were RMB 80-220/mt in the morning business. Traded prices for standard-quality copper were between RMB 56,870-56,970/mt, and RMB 56,950-57,070/mt for high-quality copper. SHFE copper prices marched higher after starting lower, but spot copper cargo-holders held divergent views. Some cargo-holders were eager to move goods for cash and slashed price quotes, but others held prices firm. However, overall spot copper supply remained sufficient. Copper discounts remained basically stable in the morning, but expanded all the way near the midday when SHFE copper prices increased. Market activity improved as downstream buying increased.