Spot Copper Price Movement (2013-11-14)

SHANGHAI, Nov. 14 (SMM) – Spot copper in Shanghai was quoted at a premium of RMB 50-150/mt over SHFE 1311 copper contract on Thursday. Traded prices were RMB 50,670-50,770/mt for standard-quality copper, and RMB 50,730-50,830/mt for high-quality copper. The price gap between imported standard-quality copper and domestic high-quality copper widened. Guixi copper was offered at a higher price than other product classes. Traders stayed out of the market since there was little room for arbitrage. Downstream producers built up stocks in small amounts at below RMB 51,000/mt.