[Cu] Summary - 2009/8/13 Spot Copper Market

SHANGHAI, Aug. 13 (SMM) -- East China, traded prices for spot copper were in the RMB 49,500-49,750/mt range in Shanghai region today, copper prices continued to climb in the afternoon due to positive economic data. Downstream consumers became hesitated in view of high prices, leading to lackluster trading activities. Traded prices for spot copper were in the RMB 49,550-49,900/mt range in Shandong province, copper prices continued to move up, but downstream purchasing interest was low, so market transactions were general.

    South China, traded prices were in the RMB 49,400-49,900/mt range for spot copper. Limited deals were made at higher prices. Price increases created incentives of cargo-holders to move goods, leading to sufficient market supply. Trading sentiment was moderate.

    North China, traded prices were RMB 49,100-49,400/mt for spot copper. Downstream demand was sluggish, and price increases further dampened downstream purchasing interest, leading to very limited transactions.

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