Snapshot: Copper spot market in Shanghai

Published: Apr 11, 2018 16:16

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Spot copper in the Shanghai market traded at a discount of 30 yuan/mt to a premium of 40 yuan/mt on Wednesday April 11

SHANGHAI, Apr 11 (SMM) – Spot copper in the Shanghai market traded at a discount of 30 yuan/mt to a premium of 40 yuan/mt on Wednesday April 11, SMM learned. This compared with a premium of 30-90 yuan/mt on the previous day.

During the day, spot offers dipped in line with the SHFE 1806 contract which fell to 51,000 yuan/mt. While sellers were keen to destock, prices of higher-grade copper fell to a discount of 30 yuan/mt to flat against the contract. Prices of hydro-copper rose, on tight supplies, and stood close to prices of standard-quality copper.

At noon, higher-grade copper mostly traded at 51,200-51,330 yuan/mt and standard-quality copper traded at 51,170-51,300 yuan/mt.

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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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