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[Cu] Summary - 2009/6/12 Scrap Copper Market
SHANGHAI, June 12 (CBI China) -- North China today 1# bright copper was traded at RMB 37,600-37,900/mt, sharp increases in copper price stimulated the speculative funds to enter the market, and the actual demand remained weak, but the trading sentiment improved slightly.
East China today 1# bright copper was traded at RMB 37,700-38,000/mt, the market supply remained tight, and so the traders became unwilling to sell, leading to limited transactions.
South China today 1# bright copper was traded at RMB 38,600-38,800/mt, the cargo-holders raised offers due to optimistic sentiment over copper price, while the downstream demand remained weak, so the transactions were slim.
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