Shanghai Spot Copper Trades at Premiums of RMB 50-120/mt (Nov. 16, 2015)

Published: Nov 16, 2015 13:20

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In Shanghai, spot copper quoted at premiums of RMB 50-120/mt over SHFE 1511 copper on November.

SHANGHAI, Nov. 16 (SMM) – In Shanghai, spot copper quoted at premiums of RMB 50-120/mt over SHFE 1511 copper on Monday. Mainstream prices were RMB 36,270-36,400/mt for standard-quality copper and RMB 36,300-36,470/mt for high-quality copper.

SHFE copper moved at lows and cargo holders started give price offers for SHFE 1512 copper. And spot copper quoted between discounts of RMB 50/mt and premiums of RMB 20/mt in the morning. Widening price gap between SHFE 1511 and 1512 copper triggered wait-and-see sentiment among traders and downstream buyers. Spot copper prices gradually fell to discounts of RMB 0-60/mt with ample supply and soft buying. Today is the last trading day for SHFE 1511 copper. And spot discounts are expected after the delivery of SHFE 1511 copper.

spot copper prices

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