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Spot Copper Price Movement (2013-2-28)
Feb 28,2013 11:57CST
smm insight
Source:SMM
Shanghai spot copper discounts were RMB 150-270/mt in the morning business, and overall market transactions were limited.

SHANGHAI, Feb. 28 (SMM) – Shanghai spot copper discounts were RMB 150-270/mt in the morning business. Traded prices for standard-quality copper were between RMB 57,050-57,150/mt, and RMB 57,100-57,250/mt for high-quality copper. SHFE copper prices held flat, but spot copper supply remained sufficient at the month’s end, causing spot copper discounts to expand. However, cargo-holders expressed slight reluctance in moving goods at lows near the midday when copper prices dropped rapidly, and led market supply to decrease. As a result, copper discounts shrank marginally. Some speculators entered markets, but downstream buying was limited due to tight cash flows. Hence, overall market transactions were limited.
 

Shanghai spot copper
Shanghai copper discounts
Shanghai copper supply

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