Spot Copper Price Movement (2014-3-24)

SHANGHAI, Mar. 24 (SMM) – Copper was offered on Monday at a premium of RMB 50-130/mt in the Shanghai market. Traded prices were RMB 45,270-45,370/mt for standard-quality copper and RMB 45,330-45,450/mt for high-quality copper. Cargo holders continued to move goods to generate cash as SHFE copper prices lacked impetus to bounce back. There was some buying interest since last Friday, with prices for standard-quality copper rising on increasing demand. Copper prices remained firm due to shortages of goods, while downstream producers merely hunted for bargains, with transactions done mostly by speculators on Monday.