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Cautious Sentiment Leaves Physical Copper Trading Modest (August 11, 2014)
Aug 11, 2014 13:39CST
Source:SMM
In the Shanghai physical market, copper was largely offered Monday between a RMB 30/mt discount and a RMB 40/mt premium over the SHFE 1408 copper contract.

SHANGHAI, Aug. 11 (SMM) – In the Shanghai physical market, copper was largely offered Monday between a RMB 30/mt discount and a RMB 40/mt premium over the SHFE 1408 copper contract. Traded prices were RMB 50,420-50,460/mt for standard-quality copper and RMB 50,460-50,520/mt for high-quality copper. After SHFE copper prices rebounded, the price gap between the SHFE 1408 and 1409 copper contracts remained at around RMB 200/mt, giving cargo holders an incentive to convert inventories into cash. The price of high-quality copper traded at a significantly lower premium, but that of standard-quality copper held firm. Most middlemen entered the market to hunt for bargains, while downstream producers bought only to need on Monday, leaving trading modest.
 

physical copper prices

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