Spot Copper Price Movement (2013-10-23)-Shanghai Metals Market

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Spot Copper Price Movement (2013-10-23)

Price Review & Forecast 01:06:16PM Oct 23, 2013 Source:SMM

SHANGHAI, Oct. 23 (SMM) – Spot copper in Shanghai was quoted at a contango of RMB 0-150/mt and a backwardation of RMB 0-50/mt over SHFE 1311 copper contract on Wednesday. Traded prices were RMB 52,200-52,400/mt for standard-quality copper, and RMB 52,270-52,550/mt for high-quality copper. SHFE copper drifted lower after a high opening. Cargo holders were anxious to sell at lower prices, but offers of hydro-copper held stable due to limited supply. A small number of traders went bargain hunting, while downstream producers were cautious about buying, keeping trading muted. 

 

Price

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Aluminum Ingot
May.24
14230.0
70.0
(0.49%)
Aluminum Ingot - Fo Shan
May.24
14320.0
70.0
(0.49%)
Aluminum Ingot - Wu Xi
May.24
14230.0
75.0
(0.53%)
Aluminum Ingot - Hang Zhou
May.24
14260.0
70.0
(0.49%)
Aluminum Ingot - Chong Qing
May.24
14260.0
70.0
(0.49%)

Spot Copper Price Movement (2013-10-23)

Price Review & Forecast 01:06:16PM Oct 23, 2013 Source:SMM

SHANGHAI, Oct. 23 (SMM) – Spot copper in Shanghai was quoted at a contango of RMB 0-150/mt and a backwardation of RMB 0-50/mt over SHFE 1311 copper contract on Wednesday. Traded prices were RMB 52,200-52,400/mt for standard-quality copper, and RMB 52,270-52,550/mt for high-quality copper. SHFE copper drifted lower after a high opening. Cargo holders were anxious to sell at lower prices, but offers of hydro-copper held stable due to limited supply. A small number of traders went bargain hunting, while downstream producers were cautious about buying, keeping trading muted.