SHANGHAI, Feb. 26 (SMM) – Trading activity in Shanghai spot copper market picked up slightly on the second day after the Chinese New Year holiday. Spot copper was offered at discounts of RMB 120-230/mt over SHFE 1503 copper contract. Standard-quality copper traded between RMB 42,060-42,360/mt, and RMB 42,100-42,440/mt for high-quality copper. Sellers rushed to sell at above RMB 42,000/mt, causing spot discounts to widen. SHFE copper gained almost RMB 300/mt near lunch time, leaving market players in physical market divergent over price outlook. The price gap between standard-quality and high-quality copper expanded, luring some processors in.
Copper Trading in Shanghai Picks Up Slightly (Feb. 26, 2015)
Trading activity in Shanghai spot copper market picked up slightly on the second day after the Chinese New Year holiday.
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