Spot Copper Price Movement (2013-10-9)-Shanghai Metals Market

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Spot Copper Price Movement (2013-10-9)

Price Review & Forecast 01:41:34PM Oct 09, 2013 Source:SMM

SHANGHAI, Oct. 9 (SMM) – Spot copper in Shanghai was offered at a contango of RMB 0-50/mt and a backwardation of RMB 0-100/mt over SHFE 1310 copper contract on Wednesday. Traded prices were RMB 52,120-52,450/mt for standard-quality copper, and RMB 52,250-52,620/mt for high-quality copper. Weak demand forced some to cut offers. Standard-quality copper, in particular, was quoted at a contango over SHFE current-month copper contract. SHFE copper fell dramatically near noon, leaving suppliers split over offers. Some held quotations unchanged at the beginning, but later cut quotes. Low-end standard-quality copper was offered RMB 100/mt below SHFE 1310 copper contract. Traders bought spot copper and sold SHFE copper, while downstream producers stayed out of the market.

    
 

Price

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1# Silver ingots(99.99%)
May.20
3490.0
-6.0
(-0.17%)
2# Silver ingots(99.95%)
May.20
3475.0
-6.0
(-0.17%)
3# Silver ingots(99.90%)
May.20
3460.0
-6.0
(-0.17%)
Gold(99.99%)
May.20
286.6
-1.2
(-0.43%)
Gold(99.95%)
May.20
286.5
-0.8
(-0.26%)

Spot Copper Price Movement (2013-10-9)

Price Review & Forecast 01:41:34PM Oct 09, 2013 Source:SMM

SHANGHAI, Oct. 9 (SMM) – Spot copper in Shanghai was offered at a contango of RMB 0-50/mt and a backwardation of RMB 0-100/mt over SHFE 1310 copper contract on Wednesday. Traded prices were RMB 52,120-52,450/mt for standard-quality copper, and RMB 52,250-52,620/mt for high-quality copper. Weak demand forced some to cut offers. Standard-quality copper, in particular, was quoted at a contango over SHFE current-month copper contract. SHFE copper fell dramatically near noon, leaving suppliers split over offers. Some held quotations unchanged at the beginning, but later cut quotes. Low-end standard-quality copper was offered RMB 100/mt below SHFE 1310 copper contract. Traders bought spot copper and sold SHFE copper, while downstream producers stayed out of the market.