Deadlock Persists in Shanghai Spot Copper Market, SMM Says

Published: Aug 23, 2017 14:13

Save

Sellers and buyers in Shanghai spot copper market are still in a deadlock today.

SHANGHAI, Aug. 23 (SMM) – Sellers and buyers in Shanghai spot copper market are still in a deadlock today.

Barclays Expects Copper Prices to Severely Soften in Late 2017

SHFE copper, though falling back, are still at above 51,000 yuan/tonne. Suppliers were unwilling to cut spot discounts, while traders lacked buying appetite. No downstream producers entered the market.

Citi and Societe Generale Express Divergent Views over Base Metals Price Outlook

Standard-quality copper traded between 51,100-51,250 yuan/tonne, while high-quality copper traded between 51,120-51,280 yuan/tonne. Spot discounts were 100-140 yuan/tonne over SHFE 1709 copper.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

shfe copper prices copper prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

5 hours ago

Tender Notice for Projects Including Safe and Energy-Efficient Copper Conductor Rails

5 hours ago

6 hours ago

The Most-Traded BC Copper Contract Closed Down 1.16%, Inflation Concerns Suppressed Expectations for Interest Rate Cuts [SMM BC Copper Commentary]

6 hours ago

7 hours ago

SHFE Copper Broke Below the 100,000 Mark Again, and Downstream Purchase Sentiment Cooled

Intraday, the SHFE copper 2603 contract fell below the 100,000-yuan mark for the second time after trading began. According to SMM, spot market activity today pulled back from March 9, when the contract first fell below 100,000 yuan, with overall trading sentiment remaining subdued on both buying and selling sides. On March 16, 2026, SMM's sentiment index for procurement in the Shanghai spot market was 2.53, while the sales sentiment index was 2.63, both down 0.29 from March 9. Historical data is available in the database. According to SMM, when copper prices fell below 100,000 yuan on March 9, some enterprises had restocking demand, which briefly boosted spot trade and brought it to a post-Chinese New Year trading high. But based on market feedback today, the contract rollover in futures may have had an impact. With copper prices again trading below the 100,000-yuan threshold, downstream enterprises showed signs of weaker acceptance.

7 hours ago