Home / Metal News / Spot Copper Price Movement (2013-10-8)

Spot Copper Price Movement (2013-10-8)

iconOct 8, 2013 14:18
Source:SMM
Spot copper in Shanghai was offered at a contango of RMB 0-20/mt and a backwardation of RMB 0-120/mt over SHFE 1310 copper contract on Tuesday.

SHANGHAI, Oct. 8 (SMM) – Spot copper in Shanghai was offered at a contango of RMB 0-20/mt and a backwardation of RMB 0-120/mt over SHFE 1310 copper contract on Tuesday. Traded prices were RMB 52,650-52,730/mt for standard-quality copper, and RMB 52,730-52,850/mt for high-quality copper. Cargo holders offered at a backwardation as delivery of SHFE current-month copper contracts is approaching. As much as downstream producers wanted to replenish stocks following the week-long holiday, their purchasing volumes were limited out of fear that transportation networks may be interrupted by the ongoing typhoon. As a result, backwardation narrowed later. Traders largely watched from the sidelines.  
    
 

Shanghai copper prices

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

SMM Events & Webinars

All