Home / Metal News /  / Spot Copper Price Movement (2014-7-8)
Spot Copper Price Movement (2014-7-8)
Jul 8,2014 13:43CST
price review forecast
Source:SMM
In the Shanghai physical market, copper was offered Tuesday at a RMB 0-140/mt discount over the SHFE 1407 copper contract.

SHANGHAI, Jul. 8 (SMM) – In the Shanghai physical market, copper was offered Tuesday at a RMB 0-140/mt discount over the SHFE 1407 copper contract. Traded prices were RMB 51,500-51,600/mt for standard-quality copper and RMB 51,600-51,700/mt for high-quality copper. As SHFE copper prices bottomed out, cargo holders continued to convert inventories into cash, with the market dominated by leading copper brands and imported standard-quality copper. Cargo holders offered a small premium to hold prices firm during the morning trading, but few transactions were reported. High-quality copper was barely offered at a premium after being lowered. Physical copper discounts, however, didn’t expand since middlemen entered the market to buy low-priced goods. Meanwhile, downstream producers continued to purchase copper only to need, and a majority of transactions were done among middlemen on Tuesday.
 

physical copper prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn