Spot Copper Discounts Appear Again in Shanghai (Aug. 21, 2015)-Shanghai Metals Market

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Spot Copper Discounts Appear Again in Shanghai (Aug. 21, 2015)

Price Review & Forecast 01:49:32PM Aug 21, 2015 Source:SMM

SHANGHAI, Aug. 21 (SMM) – Spot copper traded between discounts of RMB 30/mt and premiums of RMB 30/mt in Shanghai on Friday. Trades prices were RMB 39,130-39,180/mt for standard-quality copper and RMB 39,150-39,230/mt for high-quality copper.

Cargo holders moved goods out to book profits. Spot premiums narrowed modestly while spot discounts on standard-quality copper appeared. Some traders sourced cheap copper. Meanwhile, downstream buyers purchased as needed. Spot supply stayed sufficient in market and price gap between different brands remained small.

Spot Copper Discounts Appear Again in Shanghai (Aug. 21, 2015)

Price Review & Forecast 01:49:32PM Aug 21, 2015 Source:SMM

SHANGHAI, Aug. 21 (SMM) – Spot copper traded between discounts of RMB 30/mt and premiums of RMB 30/mt in Shanghai on Friday. Trades prices were RMB 39,130-39,180/mt for standard-quality copper and RMB 39,150-39,230/mt for high-quality copper.

Cargo holders moved goods out to book profits. Spot premiums narrowed modestly while spot discounts on standard-quality copper appeared. Some traders sourced cheap copper. Meanwhile, downstream buyers purchased as needed. Spot supply stayed sufficient in market and price gap between different brands remained small.