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[Cu] Summary - 2009/8/17 Spot Copper Market
SHANGHAI, Aug. 17 (SMM) -- East China, traded prices for spot copper were in the RMB 47,800-48,000/mt range in Shanghai region today. SHFE copper prices fell to daily limit in the afternoon, and buyers stood on the sidelines, resulting in decreased trading volumes. Traded prices for spot copper were in the RMB 47,800-47,900/mt range in Shandong region. Copper prices plummet improved the buying interest in the morning, but trading volumes shrank in the afternoon after SHFE copper prices fell to daily limit.
South China, traded prices were in the RMB 47,600-47,800/mt range for spot copper. Market supply was moderate, and some traders were involved in purchases, but downstream consumers still showed low buying sentiment, so overall transactions were weak.
North China, traded prices were RMB 47,800-48,000/mt for spot copper. The downstream purchasing sentiment improved, and traders’ supply was stable, and the transactions were general.
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