Spot Copper Price Movement (2013-10-21)

Price Review & Forecast 01:55:06PM Oct 21, 2013 Source:SMM

SHANGHAI, Oct. 21 (SMM) – Spot copper in Shanghai was quoted at a contango of RMB 0-100/mt over SHFE 1311 copper contract on Monday. Traded prices were RMB 52,100-52,180/mt for standard-quality copper, and RMB 52,150-52,250/mt for high-quality copper. Growing supply of imported copper and the end-of-month liquidity crunch compelled cargo holders to sell at lower prices. High-quality copper was offered at a contango near mid-day. Some traders bought spot copper while selling SHFE copper. Downstream producers held to a wait-and-see stance on the first day of the week.

 

Spot Copper Price Movement (2013-10-21)

Price Review & Forecast 01:55:06PM Oct 21, 2013 Source:SMM

SHANGHAI, Oct. 21 (SMM) – Spot copper in Shanghai was quoted at a contango of RMB 0-100/mt over SHFE 1311 copper contract on Monday. Traded prices were RMB 52,100-52,180/mt for standard-quality copper, and RMB 52,150-52,250/mt for high-quality copper. Growing supply of imported copper and the end-of-month liquidity crunch compelled cargo holders to sell at lower prices. High-quality copper was offered at a contango near mid-day. Some traders bought spot copper while selling SHFE copper. Downstream producers held to a wait-and-see stance on the first day of the week.