Spot Copper Price Movement (2013-10-11)-Shanghai Metals Market

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Spot Copper Price Movement (2013-10-11)

Price Review & Forecast 01:16:59PM Oct 11, 2013 Source:SMM

SHANGHAI, Oct. 11 (SMM) – Spot copper in Shanghai was quoted at a contango of RMB 0-50/mt and a backwardation of RMB 0-100/mt over SHFE 1310 copper contract on Friday. Traded prices were RMB 52,000-52,200/mt for standard-quality copper, and RMB 52,100-52,350/mt for high-quality copper. Although goods on the market still consisted primarily of imported standard-quality copper, contango of standard-quality copper narrowed some. Cargo holders became anxious to sell after SHFE copper prices fell back near noon, preventing backwardation from rising. Traders preferred high-quality copper. Some downstream producers entered the market, improving trading slightly.  
  
    
 

Price

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#1 Refined Cu
May.23
46800.0
-710.0
(-1.49%)
Aluminum Ingot
May.23
14160.0
-60.0
(-0.42%)
#1 Lead
May.23
16200.0
100.0
(0.62%)
0# Zinc
May.23
20760.0
-320.0
(-1.52%)
#1 Tin Ingot
May.23
144000.0
-250.0
(-0.17%)

Spot Copper Price Movement (2013-10-11)

Price Review & Forecast 01:16:59PM Oct 11, 2013 Source:SMM

SHANGHAI, Oct. 11 (SMM) – Spot copper in Shanghai was quoted at a contango of RMB 0-50/mt and a backwardation of RMB 0-100/mt over SHFE 1310 copper contract on Friday. Traded prices were RMB 52,000-52,200/mt for standard-quality copper, and RMB 52,100-52,350/mt for high-quality copper. Although goods on the market still consisted primarily of imported standard-quality copper, contango of standard-quality copper narrowed some. Cargo holders became anxious to sell after SHFE copper prices fell back near noon, preventing backwardation from rising. Traders preferred high-quality copper. Some downstream producers entered the market, improving trading slightly.