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Spot Copper Price Movement (2014-4-8)
Apr 8,2014 13:39CST
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Source:SMM
In the Shanghai physical market, copper was offered Tuesday at a premium of RMB 300-380/mt over SHFE current-month copper contract prices.

SHANGHAI, Apr. 8 (SMM) – In the Shanghai physical market, copper was offered Tuesday at a premium of RMB 300-380/mt over SHFE current-month copper contract prices. Traded prices were RMB 47,520-47,580/mt for standard-quality copper and RMB 47,540-47,620/mt for high-quality copper. As SHFE copper prices trended higher, cargo holders pushed up physical premiums to some RMB 400/mt on a bullish sentiment, but speculators ramped up deliveries at high prices. High-quality copper supply increased in the market, but encountered low recognition, with physical premiums narrowing later. Downstream producers Tuesday conducted restocking in small volumes, and trading activity was just modest.
 

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