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Month-End Liquidity Shortfalls Leave Physical Copper Trading Quiet (Oct. 28, 2014)
Oct 28,2014 13:46CST
price review forecast
Source:SMM
Physical copper in Shanghai was quoted Tuesday at a RMB 20-100/mt discount to the SHFE 1411 copper contract.

SHANGHAI, Oct. 28 (SMM) – Physical copper in Shanghai was quoted Tuesday at a RMB 20-100/mt discount to the SHFE 1411 copper contract. Traded prices were RMB 48,100-48,160/mt for standard-quality copper and RMB 48,140-48,200/mt for high-quality copper.

As SHFE copper rose sharply on Tuesday, cargo holders stepped up selling to increase cash flows. High-quality copper was sold at a broader discount, and standard-quality and hydro-copper followed suit. Trading activity, however, remained light since market participants considered the price rebound short-lived. Middlemen stayed largely out of the market due to liquidity shortfalls, while downstream producers were reluctant to buy in late October.
 

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