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Spot Copper Price Movement (2013-3-1)
Mar 1,2013 11:59CST
smm insight
Source:SMM
Shanghai spot copper discounts were RMB 100-220/mt in the morning business, and overall market transactions dropped after initially rising.

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.
 

Shanghai spot copper
Shanghai copper supply
Shanghai copper discounts
Shanghai copper transactions

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