Spot Copper Price Movement (2013-10-30)-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Aluminium
  • Copper scrap
  • Primary lead
  • Copper
  • Customs data
  • Market commentary
  • Nickel
  • price forecast
  • Futures movement
  • MMi Iron Ore Port Index
  • Inventory data
  • Secondary lead
  • Morning comments
  • Evening comments

Spot Copper Price Movement (2013-10-30)

Price Review & Forecast 01:31:05PM Oct 30, 2013 Source:SMM

SHANGHAI, Oct. 30 (SMM) – Spot copper in Shanghai was quoted at a contango of RMB 50-180/mt over SHFE 1311 copper contract on Wednesday. Traded prices were RMB 51,750-51,850/mt for standard-quality copper, and RMB 51,800-52,000/mt for high-quality copper. SHFE copper rose further after a high opening. Contango expanded after SHFE copper rose, especially for high-quality copper. Traders with stronger balance sheet chose to buy spot copper while selling SHFE copper. The end-of-month liquidity crunch deterred downstream producers from entering the market.
 

Price

more
#1 Refined Cu
May.24
47010.0
210.0
(0.45%)
Aluminum Ingot
May.24
14230.0
70.0
(0.49%)
#1 Lead
May.24
16300.0
100.0
(0.62%)
0# Zinc
May.24
20600.0
-160.0
(-0.77%)
#1 Tin Ingot
May.24
143500.0
-500.0
(-0.35%)

Spot Copper Price Movement (2013-10-30)

Price Review & Forecast 01:31:05PM Oct 30, 2013 Source:SMM

SHANGHAI, Oct. 30 (SMM) – Spot copper in Shanghai was quoted at a contango of RMB 50-180/mt over SHFE 1311 copper contract on Wednesday. Traded prices were RMB 51,750-51,850/mt for standard-quality copper, and RMB 51,800-52,000/mt for high-quality copper. SHFE copper rose further after a high opening. Contango expanded after SHFE copper rose, especially for high-quality copper. Traders with stronger balance sheet chose to buy spot copper while selling SHFE copper. The end-of-month liquidity crunch deterred downstream producers from entering the market.