Metals News
Spot Copper Price Movement (2013-4-12)
smm insight
01:29PM
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.
 

Shanghai spot copper prices
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