Spot Copper Price Movement (2013-10-24)-Shanghai Metals Market

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Spot Copper Price Movement (2013-10-24)

Price Review & Forecast 01:06:35PM Oct 24, 2013 Source:SMM

SHANGHAI, Oct. 24 (SMM) – Spot copper in Shanghai was quoted at a contango of RMB 0-140/mt over SHFE 1311 copper contract on Thursday. Traded prices were RMB 51,820-51,900/mt for standard-quality copper, and RMB 51,920-52,020/mt for high-quality copper. Upbeat HSBC’s flash China manufacturing PMI helped SHFE copper stop falling after a low opening. Contango narrowed only slightly due to ample supply. Traders and downstream producers became more interested in buying now that prices have fallen below RMB 52,000/mt.
 

Price

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#1 Refined Cu
May.22
47510.0
-290.0
(-0.61%)
Standard-Grade Copper
May.22
47490.0
-280.0
(-0.59%)
High-Grade Copper
May.22
47530.0
-295.0
(-0.62%)
Guixi copper
May.22
47535.0
-300.0
(-0.63%)
Low-quality copper
May.22
47415.0
-275.0
(-0.58%)

Spot Copper Price Movement (2013-10-24)

Price Review & Forecast 01:06:35PM Oct 24, 2013 Source:SMM

SHANGHAI, Oct. 24 (SMM) – Spot copper in Shanghai was quoted at a contango of RMB 0-140/mt over SHFE 1311 copper contract on Thursday. Traded prices were RMB 51,820-51,900/mt for standard-quality copper, and RMB 51,920-52,020/mt for high-quality copper. Upbeat HSBC’s flash China manufacturing PMI helped SHFE copper stop falling after a low opening. Contango narrowed only slightly due to ample supply. Traders and downstream producers became more interested in buying now that prices have fallen below RMB 52,000/mt.