Spot Copper Price Movement (2013-4-3)-Shanghai Metals Market

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Spot Copper Price Movement (2013-4-3)

SMM Insight 02:01:33PM Apr 03, 2013 Source:SMM

SHANGHAI, Apr. 3 (SMM) – Spot copper premiums were RMB 150-230/mt in Shanghai on Wednesday. Traded prices for standard-quality copper were between RMB 54,680-54,900/mt, and RMB 54,730-54,980/mt for high-quality copper. The most active SHFE copper contract rose after a high opening, easing market bearishness. Cargo holders refrained from selling at lows out of growing optimism over future prices. Spot copper supplies decreased, with offers little changed from yesterday. Some middlemen entered the market as the price gap between standard-quality copper and high-quality copper narrowed. Downstream producers rebuilt stocks in small amounts, improving overall trading.
 

Spot Copper Price Movement (2013-4-3)

SMM Insight 02:01:33PM Apr 03, 2013 Source:SMM

SHANGHAI, Apr. 3 (SMM) – Spot copper premiums were RMB 150-230/mt in Shanghai on Wednesday. Traded prices for standard-quality copper were between RMB 54,680-54,900/mt, and RMB 54,730-54,980/mt for high-quality copper. The most active SHFE copper contract rose after a high opening, easing market bearishness. Cargo holders refrained from selling at lows out of growing optimism over future prices. Spot copper supplies decreased, with offers little changed from yesterday. Some middlemen entered the market as the price gap between standard-quality copper and high-quality copper narrowed. Downstream producers rebuilt stocks in small amounts, improving overall trading.