Home / Metals / Physical Copper Looks Set to Slip Further on Risk Aversion (Sept. 22, 2014)
Stainless Steel Flanges

Physical Copper Looks Set to Slip Further on Risk Aversion (Sept. 22, 2014)

Physical copper in Shanghai was quoted Monday at a RMB 90-250/mt premium to the SHFE 1410 copper contract. Traded prices were RMB 48,450-48,900/mt for standard-quality copper and RMB 48,530-49,050/mt for high-quality copper.

As SHFE copper were falling, cargo holders rushed to convert inventories into cash at lower premiums. This, combined with outflows of some hedged copper by the midday, added to pressure from growing supply. As a result, quotations were less than RMB 100/mt for standard-quality copper and merely RMB 200/mt for high-quality copper with VAT invoice.

Speculative investors barely entered the market, while downstream producers went bargain-hunting in small volumes after copper prices fell. The price of the red metal should remain on a downward trajectory for the foreseeable future amid strong risk aversion sentiment and pessimism in the market.

Source:SMM

Zhejiang Yaang Pipe Industry Co., Limited

About www.nctv.net

www.yaang.com provide a wide range of steel products as Steel pipe, Steel pipes and seamless pipes, Alloy pipes, Pipe fittings, Composite steel pipe used in the industry, construction etc.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

Scroll To Top