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Spot Copper Price Movement (2013-7-23)
Jul 23,2013 13:40CST
price review forecast
Source:SMM
Spot copper in Shanghai was offered at a premium of RMB 160-400/mt over SHFE 1308 copper contract prices on Tuesday.

SHANGHAI, Jul. 23 (SMM) – Spot copper in Shanghai was offered at a premium of RMB 160-400/mt over SHFE 1308 copper contract prices on Tuesday. Traded prices for standard-quality copper were between RMB 51,150-51,250/mt, and RMB 51,320-51,480/mt for high-quality copper. SHFE 1311 copper contract drifted higher after a high opening. The price gap between standard-quality copper and high-quality copper widened further. Middlemen became reluctant to buy once prices rose above RMB 51,000/mt. Premium of RMB 400-420/mt was reported only for Guixi copper. Holders of standard-quality copper cut premium to RMB 160/mt from RMB 200/mt. Higher prices deterred downstream producers from buying. Market players are worried that copper prices may fall back following several consecutive days of gains given the anemic downstream demand.
 

Shanghai spot copper prices

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