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Deadlock Persists in Shanghai Spot Copper Market, SMM Says
Aug 23,2017 14:13CST
smm insight
Source:SMM
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. 

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