Metals News
[Cu Price] SMM Copper Market Daily Review (2015-8-5)
price review forecast
Aug 6,2015

SHANGHAI, Aug. 6 (SMM) – SHFE 1510 copper contract started at RMB 38,330/mt for Tuesday’s night session, and finished RMB 310/mt higher at RMB 38,280/mt, with high-end price at RMB 38,430/mt and low-end at RMB 38,160/mt.

SHFE copper slipped to RMB 38,000/mt in response to falling LME copper early Wednesday and touched a low of RMB 37,860/mt. In the afternoon, the most active contract rallied and finally closed at RMB 38,120/mt, up RMB 150/mt or 0.4%. Trading volumes slipped 136,000 while positions were up 9,066.

In Shanghai market, spot copper discounts were to RMB 10-80/mt to SHFE 1508 copper Wednesday morning and narrowed slightly in the afternoon to RMB 0-60/mt. Standard-quality copper quoted RMB 38,400-38,480/mt and RMB 38,440-38,520/mt for high-quality copper.

Cargo holders were active to sell. Guixi copper was favored by buyers, with its price on par with SHFE 1508 copper. Price gap between hydro-copper and standard-quality copper widened as sellers offered lower prices for the former. Traders’ buying activities grew whereas downstream producers still watched from the sidelines.

SHFE copper prices
spot copper prices
Cu price
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