Spot Copper Price Movement (2013-3-12)-Shanghai Metals Market

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Spot Copper Price Movement (2013-3-12)

SMM Insight 12:48:19PM Mar 12, 2013 Source:SMM

SHANGHAI, Mar. 12 (SMM) – Shanghai spot copper premiums were quoted between RMB 0-100/mt in the morning business. Traded prices for standard-quality copper were between RMB 56,600-56,650/mt, and RMB 56,650-56,750/mt for high-quality copper. SHFE copper prices lacked momentum to rebound, but some hedged copper was still locked. Copper prices also stopped falling temporarily and heightened some cargo-holders’ expectation over future copper prices. In this context, they quoted firm prices, causing spot copper supply to decrease. High-quality copper supply was limited. With premiums restricting trader buying interest, Shanghai spot copper market transactions were limited.
 

Price

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#1 Refined Cu
Jun.14
46490.0
150.0
(0.32%)
Standard-Grade Copper
Jun.14
46480.0
160.0
(0.35%)
High-Grade Copper
Jun.14
46500.0
140.0
(0.30%)
Guixi copper
Jun.14
46505.0
130.0
(0.28%)
Low-quality copper
Jun.14
46415.0
155.0
(0.34%)

Spot Copper Price Movement (2013-3-12)

SMM Insight 12:48:19PM Mar 12, 2013 Source:SMM

SHANGHAI, Mar. 12 (SMM) – Shanghai spot copper premiums were quoted between RMB 0-100/mt in the morning business. Traded prices for standard-quality copper were between RMB 56,600-56,650/mt, and RMB 56,650-56,750/mt for high-quality copper. SHFE copper prices lacked momentum to rebound, but some hedged copper was still locked. Copper prices also stopped falling temporarily and heightened some cargo-holders’ expectation over future copper prices. In this context, they quoted firm prices, causing spot copper supply to decrease. High-quality copper supply was limited. With premiums restricting trader buying interest, Shanghai spot copper market transactions were limited.