Spot Copper Price Movement (2013-3-21)-Shanghai Metals Market

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Spot Copper Price Movement (2013-3-21)

SMM Insight 03:25:48PM Mar 21, 2013 Source:SMM

SHANGHAI, Mar. 21 (SMM) – Spot copper discounts were RMB 0-40/mt and premiums RMB 0-80/mt in Shanghai on Thursday. Traded prices for standard-quality copper were between RMB 56,000-56,400/mt, and RMB 56,050-56,500/mt for high-quality copper. HSBC’s China March manufacturing PMI beat forecasts, helping SHFE 1307 copper contract prices gain by RMB 1,000/mt after a high opening. A small number of speculators bought in at lows in the morning and then quickly sold at higher prices. Spot copper supplies were ample and premiums dropped all the way down. Standard-quality copper was sold at discounts. Market quotations varied greatly. Middlemen bought spot copper while selling SHFE copper. Few transactions were completed at above RMB 56,000/mt and middlemen were the major contributors to today’s transactions. 
 

Price

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Aluminum Ingot
Nov.19
13960.0
20.0
(0.14%)
Aluminum Ingot - Fo Shan
Nov.19
13900.0
10.0
(0.07%)
Aluminum Ingot - Wu Xi
Nov.19
13950.0
10.0
(0.07%)
Aluminum Ingot - Hang Zhou
Nov.19
13990.0
30.0
(0.21%)
Aluminum Ingot - Chong Qing
Nov.19
13930.0
-10.0
(-0.07%)

Spot Copper Price Movement (2013-3-21)

SMM Insight 03:25:48PM Mar 21, 2013 Source:SMM

SHANGHAI, Mar. 21 (SMM) – Spot copper discounts were RMB 0-40/mt and premiums RMB 0-80/mt in Shanghai on Thursday. Traded prices for standard-quality copper were between RMB 56,000-56,400/mt, and RMB 56,050-56,500/mt for high-quality copper. HSBC’s China March manufacturing PMI beat forecasts, helping SHFE 1307 copper contract prices gain by RMB 1,000/mt after a high opening. A small number of speculators bought in at lows in the morning and then quickly sold at higher prices. Spot copper supplies were ample and premiums dropped all the way down. Standard-quality copper was sold at discounts. Market quotations varied greatly. Middlemen bought spot copper while selling SHFE copper. Few transactions were completed at above RMB 56,000/mt and middlemen were the major contributors to today’s transactions.