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Home / Metal News / SMM Copper Weekly Price Review and Forecast (11-15 Nov. 2013)

SMM Copper Weekly Price Review and Forecast (11-15 Nov. 2013)

Nov 11, 2013 17:19

Source:SMM

SHFE copper prices retreated to RMB 51,200/mt, down from RMB 52,100/mt for a loss of 1.8%.

SHANGHAI, Nov. 11 (SMM) – The Shanghai Composite Index tested 2,100 after falling by 2% last week. SHFE copper prices retreated to RMB 51,200/mt, down from RMB 52,100/mt for a loss of 1.8%. The SHFE/LME copper price ratio recovered and hit 7.2 as SHFE copper showed more resilience than LME copper prices. Positions for SHFE copper increased last week.

In spot copper markets, liquidity conditions improved, and spot discounts narrowed following a slight decline in SHFE copper, with some goods quoted at premiums over SHFE 1311 copper contract prices. Traders purchased goods at lower prices and downstream buyers also built stocks at prices below RMB 52,000/mt. Overall trading was up from a week ago.

SHFE copper

spot copper prices

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