Home / Metal News / High-quality spot copper see more transactions on wide spread of future-spot

High-quality spot copper see more transactions on wide spread of future-spot

iconMay 7, 2018 15:13
Source:SMM
Spot copper was mostly offered at a discount of 10 yuan/mt to a premium of 40 yuan/mt over the SHFE 1805 contract on Monday May 7 in the Shanghai market

SHANGHAI, May 7 (SMM) – Spot copper was mostly offered at a discount of 10 yuan/mt to a premium of 40 yuan/mt over the SHFE 1805 contract on Monday May 7 in the Shanghai market. This compared with a discount of 30 yuan/mt to a premium of 10 yuan/mt last Friday.

High-quality copper saw more trades as traders were keen to purchase due to the approaching delivery date for SHFE 1805 contract on May 15, and with a wide future-spot basis of around 220 yuan/mt. Standard-quality copper traded at a discount of 10 yuan/mt as traders forced down prices. This followed after sellers offered at flat to a premium of 40 yuan/mt in the morning. 

Offers for hydro-copper were lowered to a discount of 80-90 yuan/mt from a discount of 60 yuan/mt.

At noon, higher-grade copper mostly traded at 50,850-50,930 yuan/mt and standard-quality copper traded at 50,830-50,900 yuan/mt.

 


For editorial queries, please contact Daisy Tseng at daisy@smm.cn 
For more information on how to access our research reports, please email service.en@smm.cn

copper
spot price

For queries, please contact Michael Jiang at michaeljiang@smm.cn

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

Related news