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Spot Copper Price Movement (2014-4-18)
Apr 18,2014 13:09CST
price review forecast
Source:SMM
In the Shanghai physical market, copper was offered Friday at a RMB 680-800/mt premium to the nearby SHFE contract.

SHANGHAI, Apr. 18 (SMM) – In the Shanghai physical market, copper was offered Friday at a RMB 680-800/mt premium to the nearby SHFE contract. Traded prices were RMB 47,820-47,920/mt for standard-quality copper and RMB 47,880-47,980/mt for high-quality copper. With the absence of guidance from LME copper prices, SHFE copper prices consolidated narrowly on Friday. Some cargo holders were prevented from booking goods overseas, which reduced physical supply and in turn pushed up premiums further. Middlemen had limited buying interest, but downstream producers ramped up purchases, with trading activity picking up. Physical premiums are expected to remain elevated next Monday since trading will continue to be suspended on the London Metal Exchange then.
 

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