Spot Copper Price Movement (2013-4-12)-Shanghai Metals Market

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Spot Copper Price Movement (2013-4-12)

SMM Insight 01:29:55PM Apr 12, 2013 Source:SMM

SHANGHAI, Apr. 12 (SMM) – Spot copper in Shanghai was quoted at a discount of RMB 0-70/mt and premium of RMB 0-50/mt over SHFE 1304 copper contract prices on Friday. Traded prices for standard-quality copper were between RMB 55,330-55,370/mt, and RMB 55,410-55,470/mt for high-quality copper. SHFE 1308 copper contract prices maintained winning-streak, and there was a price gap of over RMB 100/mt among SHFE copper contracts. Cargo holders were eager to sell before upcoming delivery of SHFE 1304 copper contracts. Growing spot copper supply pushed copper premium down. Some middlemen went bargain-hunting. High-quality copper was favored, widening its price spread with standard-quality copper. Downstream producers will not enter the market until SHFE 1305 copper contracts become the new current-month contract, leaving trading light.
 

Price

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1# Zinc
Oct.16
18930.0
-110.0
(-0.58%)
0# Zinc
Oct.16
19000.0
-110.0
(-0.58%)
T/C for domestic zinc concentrate
Oct.01
6325.0
0.0
(0.00%)
T/C for imported zinc concentrate
Oct.01
280.0
0.0
(0.00%)
Zinc Alloy (Zamak3/ZX01)
Oct.16
19900.0
-110.0
(-0.55%)

Spot Copper Price Movement (2013-4-12)

SMM Insight 01:29:55PM Apr 12, 2013 Source:SMM

SHANGHAI, Apr. 12 (SMM) – Spot copper in Shanghai was quoted at a discount of RMB 0-70/mt and premium of RMB 0-50/mt over SHFE 1304 copper contract prices on Friday. Traded prices for standard-quality copper were between RMB 55,330-55,370/mt, and RMB 55,410-55,470/mt for high-quality copper. SHFE 1308 copper contract prices maintained winning-streak, and there was a price gap of over RMB 100/mt among SHFE copper contracts. Cargo holders were eager to sell before upcoming delivery of SHFE 1304 copper contracts. Growing spot copper supply pushed copper premium down. Some middlemen went bargain-hunting. High-quality copper was favored, widening its price spread with standard-quality copper. Downstream producers will not enter the market until SHFE 1305 copper contracts become the new current-month contract, leaving trading light.