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.

Сегодня спотовые цены на медные катоды марки #1 в Северном Китае по отношению к контракту ближайшего месяца котировались в диапазоне от дисконта 360 юаней/т до дисконта 280 юаней/т, при среднем дисконте 320 юаней/т, что на 10 юаней/т выше по сравнению с предыдущим торговым днём. Средняя цена сделок составила 104 515 юаней/т, снизившись на 15 юаней/т по сравнению с предыдущим торговым днём.