Home / Metal News /  / [Cu Price]Trades for Spot Copper Slip Following a Rise (Jul. 22, 2015)
[Cu Price]Trades for Spot Copper Slip Following a Rise (Jul. 22, 2015)
Jul 22,2015 13:26CST
price review forecast
Source:SMM
On Wednesday, SHFE copper extended losses. Cargo holders sourced cheap copper in Shanghai market.

SHANGHAI, Jul. 22 (SMM) – On Wednesday, SHFE copper extended losses. Cargo holders sourced cheap copper in Shanghai market. Trading was active in the morning for delivery of term contract. More buyers favored high-quality copper, leaving price gap between standard-quality and high-quality copper to widen.

With the drop of SHFE copper, spot premiums grew to a recent high. But trades were closed when spot premiums on high-quality copper were driven up above RMB 300/mt. Spot availability increased in market and trades went through a drop after a growth. Copper at RMB 40,000/mt could attract more buyers.   

Spot copper was offered at a premium of RMB 220-300/mt in Shanghai today. Traded prices were RMB 40,000-40,400/mt for standard-quality copper and RMB 40,020-40,440/mt for high-quality copper.

spot copper prices
Cu price

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news