Physical Copper Quoted at RMB 80-160/mt Premium as SHFE Copper Rebounds (August 18, 2014)-Shanghai Metals Market

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Physical Copper Quoted at RMB 80-160/mt Premium as SHFE Copper Rebounds (August 18, 2014)

Price Review & Forecast 03:37:03PM Aug 18, 2014 Source:SMM

SHANGHAI, Aug. 18 (SMM) – In the Shanghai physical market, copper was offered Monday at a RMB 80-160/mt premium over the SHFE 1409 copper contract. Traded prices were RMB 49,480-49,500/mt for standard-quality copper and RMB 49,480-49,580/mt for high-quality copper. As SHFE copper prices rebounded, cargo holders quoted high-quality copper at as high as a RMB 250/mt premium, but no transactions were reported. Quotations for hydro-copper and standard-quality copper were close to those for high-quality copper. Middlemen evinced moderate buying interest, while downstream producers barely entered the market, holding that the rebound in copper prices will be short-lived. Trading activity was moderate at low prices on Monday. Physical copper premium is likely to fall further for the foreseeable future.
 

Key Words:  spot copper prices 

Physical Copper Quoted at RMB 80-160/mt Premium as SHFE Copper Rebounds (August 18, 2014)

Price Review & Forecast 03:37:03PM Aug 18, 2014 Source:SMM

SHANGHAI, Aug. 18 (SMM) – In the Shanghai physical market, copper was offered Monday at a RMB 80-160/mt premium over the SHFE 1409 copper contract. Traded prices were RMB 49,480-49,500/mt for standard-quality copper and RMB 49,480-49,580/mt for high-quality copper. As SHFE copper prices rebounded, cargo holders quoted high-quality copper at as high as a RMB 250/mt premium, but no transactions were reported. Quotations for hydro-copper and standard-quality copper were close to those for high-quality copper. Middlemen evinced moderate buying interest, while downstream producers barely entered the market, holding that the rebound in copper prices will be short-lived. Trading activity was moderate at low prices on Monday. Physical copper premium is likely to fall further for the foreseeable future.
 

Key Words:  spot copper prices