Metals News
Bearishness Looms Shanghai Spot Copper Market (Aug. 24, 2015)
price review forecast
03:04PM
Aug 24,2015
Source:SMM

SHANGHAI, Aug. 24(SMM) – On Monday, spot copper traded between discounts of RMB 50/mt and premiums of RMB 40/mt in Shanghai. Mainstream prices were RMB 38,180-39,180/mt for standard-quality copper and RMB 39,150-38,580/mt for high-quality copper.

Asian and Pacific stocks dropped across the board. SHFE copper prices lost for near RMB 1,000/mt. A large amount of copper imports flowed into market. Some cargo holders cut their price offers to excite trades. Price gap between different brand copper widened above RMB 50/mt with sufficient supply in market. Speculators still bought spot copper and sold copper futures while wait-and-see sentiment loomed downstream market. Bearishness grew in the whole market. 


spot copper prices
copper prices
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 Price

No Data