Spot Copper Price Movement (2013-6-6)-Shanghai Metals Market

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Spot Copper Price Movement (2013-6-6)

SMM Insight 01:37:57PM Jun 06, 2013 Source:SMM

SHANGHAI, Jun. 6 (SMM) – Spot copper in Shanghai was offered at a discount of RMB 0-70 and premium of RMB 0-120/mt over SHFE 1306 copper contract prices on Thursday. Traded prices for standard-quality copper were between RMB 53,750-53,850/mt, and RMB 53,800-54,030/mt for high-quality copper. SHFE 1309 copper contract prices were range-bound. Holders of imported copper rushed to sell for cash by lowering premium. Standard-quality copper was sold at discount. Prices of imported high-quality copper were flat with or slightly higher than SHFE 1306 copper contract prices, but RMB 100/mt lower than domestic high-quality copper. Prices of Guixi brand copper remained high, leaving little room for arbitrage. Downstream producers purchased based on orders at RMB 54,000/mt, with no massive pre-holiday restocking reported.  
 

Price

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Aluminum Ingot
Oct.16
13880.0
110.0
(0.80%)
Aluminum Ingot - Fo Shan
Oct.16
13840.0
60.0
(0.44%)
Aluminum Ingot - Wu Xi
Oct.16
13890.0
100.0
(0.73%)
Aluminum Ingot - Hang Zhou
Oct.16
13905.0
95.0
(0.69%)
Aluminum Ingot - Chong Qing
Oct.16
13840.0
85.0
(0.62%)

Spot Copper Price Movement (2013-6-6)

SMM Insight 01:37:57PM Jun 06, 2013 Source:SMM

SHANGHAI, Jun. 6 (SMM) – Spot copper in Shanghai was offered at a discount of RMB 0-70 and premium of RMB 0-120/mt over SHFE 1306 copper contract prices on Thursday. Traded prices for standard-quality copper were between RMB 53,750-53,850/mt, and RMB 53,800-54,030/mt for high-quality copper. SHFE 1309 copper contract prices were range-bound. Holders of imported copper rushed to sell for cash by lowering premium. Standard-quality copper was sold at discount. Prices of imported high-quality copper were flat with or slightly higher than SHFE 1306 copper contract prices, but RMB 100/mt lower than domestic high-quality copper. Prices of Guixi brand copper remained high, leaving little room for arbitrage. Downstream producers purchased based on orders at RMB 54,000/mt, with no massive pre-holiday restocking reported.