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Spot Copper Price Movement (2013-11-19)
Nov 19,2013 13:27CST
price review forecast
Source:SMM
Spot copper in Shanghai was quoted at a premium of RMB 80-180/mt over SHFE 1312 copper contract on Tuesday.

SHANGHAI, Nov. 19 (SMM) – Spot copper in Shanghai was quoted at a premium of RMB 80-180/mt over SHFE 1312 copper contract on Tuesday. Traded prices were RMB 50,220-50,280/mt for standard-quality copper, and RMB 50,280-50,380/mt for high-quality copper. Falling LME and SHFE copper triggered bearish sentiment. Suppliers offered at a premium of RMB 100-200/mt early in the morning, but were forced to cut quotes later in the day due to sluggish consumption. Traders were little interested in buying, while downstream producers largely purchased as needed in the belief that copper prices will slid below RMB 50,000/mt.
 

Shanghai copper prices

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