Spot Copper Price Movement (2013-3-7)-Shanghai Metals Market

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Spot Copper Price Movement (2013-3-7)

SMM Insight 12:03:51PM Mar 07, 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.

 

Price

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#1 Refined Cu
Nov.15
46935.0
-90.0
(-0.19%)
Standard-Grade Copper
Nov.15
46925.0
-90.0
(-0.19%)
High-Grade Copper
Nov.15
46955.0
-80.0
(-0.17%)
Guixi Copper
Nov.15
46965.0
-75.0
(-0.16%)
Low-Quality Copper
Nov.15
46870.0
-90.0
(-0.19%)

Spot Copper Price Movement (2013-3-7)

SMM Insight 12:03:51PM Mar 07, 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.