Spot Copper Price Movement (2013-4-25)-Shanghai Metals Market

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Spot Copper Price Movement (2013-4-25)

SMM Insight 02:29:32PM Apr 25, 2013 Source:SMM

SHANGHAI, Apr. 25 (SMM) – Spot copper in Shanghai was quoted at a premium of RMB 150-250/mt over SHFE 1305 copper contract on Thursday. Traded prices for standard-quality copper were between RMB 51,400-51,850/mt, and RMB 51,450-52,000/mt for high-quality copper. SHFE 1308 copper contract rose after a high opening, leaving little room for arbitrage. Spot copper supply was stable, while downstream producers began to build up stocks for the upcoming Chinese May Day holiday. Cargo holders had more negotiation power over pricing.
 

Spot Copper Price Movement (2013-4-25)

SMM Insight 02:29:32PM Apr 25, 2013 Source:SMM

SHANGHAI, Apr. 25 (SMM) – Spot copper in Shanghai was quoted at a premium of RMB 150-250/mt over SHFE 1305 copper contract on Thursday. Traded prices for standard-quality copper were between RMB 51,400-51,850/mt, and RMB 51,450-52,000/mt for high-quality copper. SHFE 1308 copper contract rose after a high opening, leaving little room for arbitrage. Spot copper supply was stable, while downstream producers began to build up stocks for the upcoming Chinese May Day holiday. Cargo holders had more negotiation power over pricing.