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High Copper Prices Discourage Downstream Producers from Buying (2014-7-25)
Jul 25,2014 13:33CST
price review forecast
Source:SMM
In the Shanghai physical market, copper was offered Friday at a RMB 60-180/mt discount over the SHFE 1408 copper contract.

SHANGHAI, Jul. 25 (SMM) – In the Shanghai physical market, copper was offered Friday at a RMB 60-180/mt discount over the SHFE 1408 copper contract. Traded prices were RMB 50,640-50,760/mt for standard-quality copper and RMB 50,680-50,860/mt for high-quality copper. The pullback in SHFE copper prices prompted cargo holders to ramp up deliveries for cash, driving up physical discounts. Some middlemen later entered the market to buy low-priced goods, with standard-quality copper gaining favor. Downstream producers, however, stayed out of the market since they considered current prices too high. Transactions were done mostly by middlemen ahead of the weekend.
 

physical copper prices

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