Peru Seen Reversing Falling Copper Production, Gains In 2012

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, a new monthly procurement cycle begins, and downstream restocking demand is released. Suppliers are expected to significantly raise their quotes accordingly. In terms of market performance, as copper prices remain at a relatively high level, after suppliers raise their quotes, downstream enterprises' willingness to chase higher prices remains limited. Some transactions are expected to occur after consecutive quote reductions, with coexisting willingness to hold prices firm and to cut prices for shipments. Overall, amid the tug-of-war between partial release of early-month procurement demand and high-price suppression, spot prices against the SHFE copper 2606 contract are expected to remain at a discount tomorrow.

Hoje, os preços spot do cátodo de cobre #1 no Norte da China em relação ao contrato do mês mais próximo foram cotados com um desconto médio de 360 yuan/t a um desconto de 280 yuan/t, com o desconto médio de 320 yuan/t, uma alta de 10 yuan/t em relação ao dia de negociação anterior. O preço médio de transação foi de 104.515 yuan/t, uma queda de 15 yuan/t em relação ao dia de negociação anterior.