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Spot Copper Price Movement (2013-11-6)
Nov 6, 2013 14:40Source:SMM
Spot copper in Shanghai was quoted at a contango of RMB 0-80/mt and a backwardation of RMB 0-20/mt over SHFE 1311 copper contract on Wednesday.
SHANGHAI, Nov. 6 (SMM) – Spot copper in Shanghai was quoted at a contango of RMB 0-80/mt and a backwardation of RMB 0-20/mt over SHFE 1311 copper contract on Wednesday. Traded prices were RMB 51,500-51,600/mt for standard-quality copper, and RMB 51,550-51,750/mt for high-quality copper. Some traders bought aggressively in the morning, helping narrow contango. High-quality copper was offered at a backwardation. Downstream producers stepped in once prices fell back during the second trading session.
Shanghai copper prices
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