Spot Copper Price Movement (2013-3-6)-Shanghai Metals Market

Hot Keywords

  • Zinc
  • MMi Iron Ore Port Index
  • Copper scrap
  • Aluminium
  • Rare earth
  • Copper
  • Morning comments
  • Aluminum
  • Futures movement
  • Inventory data
  • Evening comments
  • aluminum
  • Nickel
  • price forecast
  • VAT

Spot Copper Price Movement (2013-3-6)

SMM Insight 11:58:30AM Mar 06, 2013 Source:SMM

SHANGHAI, Mar. 6 (SMM) – Shanghai spot copper discounts were quoted between RMB 30-120/mt in the morning business. Traded prices for standard-quality copper were between RMB 56,580-56,680/mt, and RMB 56,620-56,740/mt for high-quality copper. SHFE copper prices marched down after opening higher, so spot copper cargo-holders became more optimistic over future markets and expressed unwillingness in moving goods. Spot copper supply thus decreased noticeably and helped copper discounts narrow all the way. Speculative interest also weakened in the face of shrinking discounts, but downstream producers still bought as needed. Supply surplus eased marginally as a result.

 

Price

more
#1 Refined Cu
Jun.17
46150.0
-340.0
(-0.73%)
Standard-Grade Copper
Jun.17
46120.0
-360.0
(-0.77%)
High-Grade Copper
Jun.17
46180.0
-320.0
(-0.69%)
Guixi copper
Jun.17
46185.0
-320.0
(-0.69%)
Low-quality copper
Jun.17
46070.0
-345.0
(-0.74%)

Spot Copper Price Movement (2013-3-6)

SMM Insight 11:58:30AM Mar 06, 2013 Source:SMM

SHANGHAI, Mar. 6 (SMM) – Shanghai spot copper discounts were quoted between RMB 30-120/mt in the morning business. Traded prices for standard-quality copper were between RMB 56,580-56,680/mt, and RMB 56,620-56,740/mt for high-quality copper. SHFE copper prices marched down after opening higher, so spot copper cargo-holders became more optimistic over future markets and expressed unwillingness in moving goods. Spot copper supply thus decreased noticeably and helped copper discounts narrow all the way. Speculative interest also weakened in the face of shrinking discounts, but downstream producers still bought as needed. Supply surplus eased marginally as a result.