Spot Copper Price Movement (2013-3-1)-Shanghai Metals Market

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Spot Copper Price Movement (2013-3-1)

SMM Insight 11:59:13AM Mar 01, 2013 Source:SMM

SHANGHAI, Mar. 1 (SMM) – Shanghai spot copper discounts were RMB 100-220/mt in the morning business. Traded prices for standard-quality copper were between RMB 56,300-56,620/mt, and RMB 56,400-56,750/mt for high-quality copper. SHFE copper prices slid significantly and caused hedged copper to enter spot markets. Spot copper supply increased as a result, so discounts were unable to narrow. However, market activity improved as downstream producers bought at lows. Copper discounts shrank near the midday when SHFE copper prices shed by nearly RMB 1,000/mt, but cargo-holders shifted to the sidelines. Market pessimism was growing again, and market activity became muted. Overall market transactions dropped after initially rising in the morning as market surplus remained.
 

Price

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1# Zinc
Jun.18
20330.0
-230.0
(-1.12%)
0# Zinc
Jun.18
20400.0
-230.0
(-1.11%)
T/C for domestic zinc concentrate
Jun.01
6350.0
0.0
(0.00%)
T/C for imported zinc concentrate
Jun.01
240.0
0.0
(0.00%)
Zinc Alloy (Zamak3/ZX01)
Jun.17
21530.0
-340.0
(-1.55%)

Spot Copper Price Movement (2013-3-1)

SMM Insight 11:59:13AM Mar 01, 2013 Source:SMM

SHANGHAI, Mar. 1 (SMM) – Shanghai spot copper discounts were RMB 100-220/mt in the morning business. Traded prices for standard-quality copper were between RMB 56,300-56,620/mt, and RMB 56,400-56,750/mt for high-quality copper. SHFE copper prices slid significantly and caused hedged copper to enter spot markets. Spot copper supply increased as a result, so discounts were unable to narrow. However, market activity improved as downstream producers bought at lows. Copper discounts shrank near the midday when SHFE copper prices shed by nearly RMB 1,000/mt, but cargo-holders shifted to the sidelines. Market pessimism was growing again, and market activity became muted. Overall market transactions dropped after initially rising in the morning as market surplus remained.