Snapshot: Copper spot market in Shanghai

Published: Apr 9, 2018 13:42

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Traders were actively looking to sell copper in the Shanghai spot market on the morning of Monday April 9.

SHANGHAI, Apr 9 (SMM) – Traders were actively looking to sell copper in the Shanghai spot market on the morning of Monday April 9. While they offered the red metal at a premium of 60-120 yuan/mt, transactions were mostly concluded at a premium of 70-100 yuan/mt.

Standard-quality copper was heard traded at 50,320-50,460 yuan/mt and high-quality copper was at 50,340-50,500 yuan/mt, SMM learned.

However, as the SHFE contract rose to close to 50,400 yuan/mt, trading became limited even though sellers were willing to offload their cargoes at a premium of 30-70 yuan/mt. Buyers were mostly waiting for a better price.

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Copper spot market

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.

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