[Cu] SMM Summary - 2009/7/28 Spot Copper Market

SHANGHAI, July 28 (SMM) -- East China, traded prices for spot copper were in the RMB 44,750-44,900/mt range in Shanghai region today. Copper prices climbed in the afternoon, and spot premiums remained in the RMB 0-100/mt range. Suppliers were optimistic with regard to price outlook, but downstream consumers were cautious about purchases. Traded prices for spot copper were in the RMB 44,800-44,900/mt range in Shandong region. Copper prices continued to rise and the consumption improved slightly.

    South China, traded prices were in the RMB 44,600-44,800/mt range for spot copper. The demand became weak due to falling operating rates in downstream industries, and buyers were reluctant to accept higher prices, so transactions were limited.

    North China, traded prices were RMB 44,600-44,800/mt for spot copper. Brisk scrap copper transactions restricted the consumption of refined copper in Tianjin region. Copper supply remained stable, but copper prices faced downward pressure around RMB 45,000/mt, and downstream consumers held cautious buying sentiment, so transactions were weak.

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