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

Hot Keywords

  • Zinc
  • Aluminium
  • Copper scrap
  • Copper
  • price forecast
  • Nickel
  • Market commentary
  • Futures movement
  • MMi Iron Ore Port Index
  • Evening comments
  • Aluminium scrap
  • Zinc concentrate
  • Manganese ore
  • Lead
  • Inventory data

Spot Copper Price Movement (2013-10-10)

Price Review & Forecast 01:38:03PM Oct 10, 2013 Source:SMM

SHANGHAI, Oct. 10 (SMM) – Spot copper in Shanghai was quoted at a contango of RMB 0-80/mt and a backwardation of RMB 0-100/mt over SHFE 1310 copper contract on Thursday. Traded prices were RMB 51,820-51,880/mt for standard-quality copper, and RMB 51,930-52,050/mt for high-quality copper. SHFE copper extended declines. Spot copper suppliers held offers flat with previous two days. The SHFE/LME copper price ratio rose further, favorable for copper imports. Holders of imported standard-quality copper cut offers against growing supply. Prices for hydro-copper rose due to limited supply, allowing its price gap with standard-quality copper to narrow. Downstream producers built up only small amounts of stocks.  
    
 

Price

more
#1 Refined Cu
May.23
46800.0
-710.0
(-1.49%)
Standard-Grade Copper
May.23
46775.0
-715.0
(-1.51%)
High-Grade Copper
May.23
46820.0
-710.0
(-1.49%)
Guixi copper
May.23
46830.0
-705.0
(-1.48%)
Low-quality copper
May.23
46700.0
-715.0
(-1.51%)

Spot Copper Price Movement (2013-10-10)

Price Review & Forecast 01:38:03PM Oct 10, 2013 Source:SMM

SHANGHAI, Oct. 10 (SMM) – Spot copper in Shanghai was quoted at a contango of RMB 0-80/mt and a backwardation of RMB 0-100/mt over SHFE 1310 copper contract on Thursday. Traded prices were RMB 51,820-51,880/mt for standard-quality copper, and RMB 51,930-52,050/mt for high-quality copper. SHFE copper extended declines. Spot copper suppliers held offers flat with previous two days. The SHFE/LME copper price ratio rose further, favorable for copper imports. Holders of imported standard-quality copper cut offers against growing supply. Prices for hydro-copper rose due to limited supply, allowing its price gap with standard-quality copper to narrow. Downstream producers built up only small amounts of stocks.