Non-ferrous
Non-ferrous
Base Metals
Rare Earth
Scrap Metals
Minor Metals
Precious Metals
New Energy
DashboardDatabaseProReportsEventsCar Insight
Download our mobile app to
your devices
Spot copper trades weakened at month-end amid strong futures prices
SMM expects the downside room in spot premiums to be capped as inventories of spot materials remained at low
SHANGHAI, Nov 28 (SMM) – The Shanghai spot copper market saw subdued trades on the morning of November 28 as downstream consumers were not in a hurry to purchase at the end of a month and elevated futures prices also weighed on demand.
At noon of Thursday, sluggish trades drove cargo holders to cut premiums to 70-80 yuan/mt, against the SHFE December contract, for standard-quality copper, and to 90 yuan/mt for high-grade copper, compared to premiums as high as 100 yuan/mt in early trades this morning.
Premiums of hydro-copper fell to 20 yuan/mt at noon.
SMM expects the downside room in spot premiums to be capped as inventories of spot materials remained at low.
On November 28, the SHFE December contract hovered above 47,250 yuan/mt and ended the morning trading session 0.19% higher at 47,290 yuan/mt.
At noon on November 28, high-grade copper traded at 47,340-47,370 yuan/mt and standard-quality copper traded at 47,320-47,350 yuan/mt.
Market commentary
Futures movement
Spot copper
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
Data: SHFE, DCE market movement (Nov 17)
The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on November 17, 2021
Nov 17, 2021 15:23
Data: SHFE, DCE market movement (Nov 4)
The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on November 4, 2021
Nov 4, 2021 15:32Data: SHFE, DCE market movement (Nov 3)
The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on November 3, 2021
Nov 3, 2021 15:25Data: SHFE, DCE market movement (Oct 27)
The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on October 27, 2021
Oct 27, 2021 15:25Data: SHFE, DCE market movement (Oct 21)
The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on October 21, 2021
Oct 21, 2021 15:25Data: SHFE, DCE market movement (Sep 27)
The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on September 27, 2021
Sep 27, 2021 15:25Data: SHFE, DCE market movement (Sep 17)
The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on September 17, 2021
Sep 17, 2021 15:25Data: SHFE, DCE market movement (Sep 7)
The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on September 7, 2021
Sep 7, 2021 16:28SMM Events & Webinars
All- Oct09
NET ZERO EUROPE - Solar & Energy Storage Summit
Oct 09 - 10,2024THE EGG BRUSSELS, BELGIUM
- Oct08
2nd Li-ion Battery Europe 2024
Oct 08 - 10,2024THE EGG BRUSSELS, BELGIUM
- Jun24
2024 Global Renewable Metal Industry Chain Summit
Jun 24 - 25,2024To foster international cooperation and dialogue among industry colleaguesKuala Lumpur , Malaysia
Shanghai Metals Market
Privacy PolicyCompliance CentreSMM Credit ServiceContact UsAbout UsTerms & ConditionsSitemapHoliday Pricing Schedule
Notice: By accessing this site you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices, graphs or news content) in any form or for any purpose whatsoever without the prior written consent of the publisher.
Drop us a line
service.en@smm.cn
How can we help you?
+86 021 5155-0306
Live chat via WhatsApp
Copyright © 2024 SMM Information & Technology Co., Ltd. All rights reserved.
