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Copper Trading in Shanghai Picks Up Slightly (Feb. 26, 2015)

iconFeb 26, 2015 22:24
Source:SMM
Trading activity in Shanghai spot copper market picked up slightly on the second day after the Chinese New Year holiday.
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.  
 
SHFE copper prices
Shanghai copper price

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