Metals News
Spot Copper Price Movement (2013-3-7)
smm insight
12:03PM
Mar 7,2013
Source:SMM

SHANGHAI, Mar. 7 (SMM) – Shanghai spot copper offers were quoted between discounts RMB 80/mt and premiums 20/mt in the morning business. Traded prices for standard-quality copper were between RMB 56,180-56,280/mt, and RMB 56,240-56,380/mt for high-quality copper. SHFE copper prices fell sharply and caused hedged copper to flow into spot markets. Spot copper cargo-holders offered slight premiums, which, however, were resisted by markets. With copper prices rallying from lows, market sale volumes increased. In this context, premiums for high-quality copper turned to discounts, and discounts for standard-quality copper expanded. Most traders chose to stand on the sidelines, while some downstream producers stepped up purchases at lows. Overall market activity remained muted, though.

 

Shanghai spot copper
Shanghai copper supply
Shanghai copper trading
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