Spot Copper Price Movement (2013-3-19)

SHANGHAI, Mar. 19 (SMM) – Spot copper premiums were RMB 50-180/mt in Shanghai on Tuesday. Traded prices for standard-quality copper were between RMB 55,480-55,520/mt, and RMB 55,550-55,600/mt for high-quality copper. SHFE copper prices stopped falling, allowing cargo holders to hold back goods at low prices. Spot copper supplies fell sharply as a result, especially high-quality copper. Downstream producers went bargain-hunting, while middlemen were hunting for high-quality copper. Both traded prices and volumes of high-quality copper went up. Trading was brisk at low prices.