Spot Copper Trades RMB 20-60/mt below SHFE Front-month Contract in Shanghai (Sept. 10, 2015)-Shanghai Metals Market

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Spot Copper Trades RMB 20-60/mt below SHFE Front-month Contract in Shanghai (Sept. 10, 2015)

Price Review & Forecast 01:33:42PM Sep 10, 2015 Source:SMM

SHANGHAI, Sept. 10 (SMM) – In Shanghai market, spot copper was offered RMB 20-60/mt below SHFE 1509 copper on Thursday, versus RMB 40,800-40,880/mt for standard-quality copper and RMB 40,820-40,900/mt for high-quality copper.

Market supply stabilized on Thursday. Huge amount of high-quality copper forced them to be traded at lows while standard-quality copper and hydro-copper enjoys high popularity. Traders thus were unwilling to sell standard-quality copper at lows but meanwhile the prices were hard to be raised further. Low prices attracted downstream buyers to enter market. Prices diverged a lot between different brand copper and this allowed transactions to be mixed. Trading activity among traders declined. 


Spot Copper Trades RMB 20-60/mt below SHFE Front-month Contract in Shanghai (Sept. 10, 2015)

Price Review & Forecast 01:33:42PM Sep 10, 2015 Source:SMM

SHANGHAI, Sept. 10 (SMM) – In Shanghai market, spot copper was offered RMB 20-60/mt below SHFE 1509 copper on Thursday, versus RMB 40,800-40,880/mt for standard-quality copper and RMB 40,820-40,900/mt for high-quality copper.

Market supply stabilized on Thursday. Huge amount of high-quality copper forced them to be traded at lows while standard-quality copper and hydro-copper enjoys high popularity. Traders thus were unwilling to sell standard-quality copper at lows but meanwhile the prices were hard to be raised further. Low prices attracted downstream buyers to enter market. Prices diverged a lot between different brand copper and this allowed transactions to be mixed. Trading activity among traders declined.