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Spot Copper Price Movement (2013-7-2)
Jul 2,2013 13:40CST
price review forecast
Source:SMM
Spot copper in Shanghai was offered at a discount of RMB 0-100/mt and premium of RMB 0-20/mt over SHFE 1307 copper contract prices on Tuesday.

SHANGHAI, Jul. 2 (SMM) – Spot copper in Shanghai was offered at a discount of RMB 0-100/mt and premium of RMB 0-20/mt over SHFE 1307 copper contract prices on Tuesday. Traded prices for standard-quality copper were between RMB 50,430-50,570/mt, and RMB 50,530-50,670/mt for high-quality copper. SHFE copper gained almost RMB 1,000/mt, pushing spot copper up above RMB 50,000/mt. Cargo holders sold at highs, keeping supply plentiful. Copper prices rose further towards mid-day, stimulating some middlemen to but soot copper while selling SHFE copper for arbitrage. This allowed traders to hike offers. Downstream producers shied away from high prices.
 

Shanghai spot copper prices

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