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.
 

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.