Spot Copper Discounts Expand in Shanghai (Sept. 22, 2015)-Shanghai Metals Market

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Spot Copper Discounts Expand in Shanghai (Sept. 22, 2015)

Price Review & Forecast 01:50:04PM Sep 22, 2015 Source:SMM

SHANGHAI, Sept. 22 (SMM) – On Tuesday, spot copper was offered between discounts of RMB 70/mt and premiums of RMB 10/mt in Shanghai. Mainstream prices were RMB 40,090-40,170/mt for standard-quality copper, versus RMB 40,120-40,230/mt for high-quality copper.

SHFE copper fell back after meeting resistance on Tuesday. Cargo holders rush to sell, driving up spot supply. This left wide room open for price negotiation. SHFE 1510 and 1511 price gap stayed above RMB 20/mt. Thus, traders went for bargain hunting. Downstream producers entered market following a fall in SHFE copper prices. Transactions gradually picked up. 


Spot Copper Discounts Expand in Shanghai (Sept. 22, 2015)

Price Review & Forecast 01:50:04PM Sep 22, 2015 Source:SMM

SHANGHAI, Sept. 22 (SMM) – On Tuesday, spot copper was offered between discounts of RMB 70/mt and premiums of RMB 10/mt in Shanghai. Mainstream prices were RMB 40,090-40,170/mt for standard-quality copper, versus RMB 40,120-40,230/mt for high-quality copper.

SHFE copper fell back after meeting resistance on Tuesday. Cargo holders rush to sell, driving up spot supply. This left wide room open for price negotiation. SHFE 1510 and 1511 price gap stayed above RMB 20/mt. Thus, traders went for bargain hunting. Downstream producers entered market following a fall in SHFE copper prices. Transactions gradually picked up.