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Spot Copper Price Movement (2014-3-28)
Mar 28,2014 13:25CST
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Source:SMM
In the Shanghai physical market, copper was offered on Friday at a premium of RMB 100-180/mt over SHFE current-month copper contract prices.

SHANGHAI, Mar. 28 (SMM) – In the Shanghai physical market, copper was offered on Friday at a premium of RMB 100-180/mt over SHFE current-month copper contract prices. Traded prices were RMB 46,500-46,540/mt for standard-quality copper and RMB 46,540-46,620/mt for high-quality copper. As SHFE copper prices basically held flat in the morning trading session, cargo holders continued to trade the same as Thursday, but gradually lowered spot premium due to sluggish trading activity. After SHFE copper prices later bounced back, spot premium for high-quality copper narrowed to RMB 150-160/mt near midday, while spot premium for standard-quality copper also contracted slightly. A smaller number of middlemen entered market, and downstream producers only purchased goods as needed before the weekend. Trading activity slowed on Friday since market participants did not expect spot premium to rise next week.
 

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