Spot Copper Price Movement (2013-3-18)

SHANGHAI, Mar. 18 (SMM) – Spot copper premiums were RMB 10-100/mt in Shanghai on Monday. Traded prices for standard-quality copper were between RMB 55,480-55,600/mt, and RMB 55,520-55,700/mt for high-quality copper. SHFE copper prices tumbled by 2.6%, creating opportunities for arbitrage. Supplies were ample and spot copper premiums were firm at RMB 100/mt. Downstream producers were active in bargain-hunting, while middlemen were slightly cautious about buying. Copper prices have shown no signs of stopping falling, promoting cargo holders to aggressively move goods.