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Spot Copper Price Movement (2013-2-27)
Feb 27,2013 13:02CST
smm insight
Source:SMM
Shanghai spot copper discounts were RMB 140-260/mt in the morning business, but overall market supply still exceeded demand.

SHANGHAI, Feb. 27 (SMM) – Shanghai spot copper discounts were RMB 140-260/mt in the morning business. Traded prices for standard-quality copper were between RMB 57,020-57,100/mt, and RMB 57,100-57,200/mt for high-quality copper. SHFE copper prices lacked rebounding momentum, but spot copper cargo-holders insisted on moving goods, keeping market supply sufficient. Large copper discounts continued as a result. Most speculators took a wait-and-see posture, awaiting clear price direction, while some downstream producers chose to enter markets at lows. Hence, market transactions increased marginally, but overall market supply still exceeded demand. 
  
 

Shanghai spot copper
Shanghai copper supply
Shanghai copper discounts

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