Spot Copper Price Movement (2013-10-29)-Shanghai Metals Market

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Spot Copper Price Movement (2013-10-29)

Price Review & Forecast 01:14:33PM Oct 29, 2013 Source:SMM

SHANGHAI, Oct. 29 (SMM) – Spot copper in Shanghai was quoted at a contango of RMB 0-120/mt over SHFE 1311 copper contract on Tuesday. Traded prices were RMB 51,350-51,500/mt for standard-quality copper, and RMB 51,400-51,650/mt for high-quality copper. SHFE copper moved lower after a low opening. Spot copper suppliers remained anxious to sell at contango. Traders continued to go bargain hunting. Downstream producers, expecting copper prices to fall, refrained from entering the market.
 

Price

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#1 Refined Cu
Oct.17
46700.0
-215.0
(-0.46%)
Aluminum Ingot
Oct.17
13960.0
80.0
(0.58%)
#1 Lead
Oct.17
17000.0
150.0
(0.89%)
0# Zinc
Oct.17
18890.0
-110.0
(-0.58%)
#1 Tin Ingot
Oct.17
139000.0
750.0
(0.54%)

Spot Copper Price Movement (2013-10-29)

Price Review & Forecast 01:14:33PM Oct 29, 2013 Source:SMM

SHANGHAI, Oct. 29 (SMM) – Spot copper in Shanghai was quoted at a contango of RMB 0-120/mt over SHFE 1311 copper contract on Tuesday. Traded prices were RMB 51,350-51,500/mt for standard-quality copper, and RMB 51,400-51,650/mt for high-quality copper. SHFE copper moved lower after a low opening. Spot copper suppliers remained anxious to sell at contango. Traders continued to go bargain hunting. Downstream producers, expecting copper prices to fall, refrained from entering the market.