Shanghai China Copper Prices Analysis May 31
on May 31st, 2010 at 6:45 pmToday Shanghai copper opened low and bottom closed. Contract 1009 closed at 55,050 points, down by 740 points, or 1.33%, trading at 55,040 to 55,800, positions increased 10,100 hands, turnover rose slightly.
On the spot market, the Yangtze River 1 # electrolytic copper 55,350-55,450 RMB/T, down by 80 RMB/T; Shanghai 1 # copper 55,400-55,680 RMB/T, down by 160 RMB/T; Guangdong Nanchu 1 # electrolytic copper 55,500-55,700 RMB/T, down by 250 RMB/T.
Today, the domestic copper price was as flat as last week. Market supply of goods was stable. Goods holders shipped at any expected high price. Watching attitudes were clear in the market. Downstream procurement was cautious. Latest Market Price: 1 # bare bright 52,000 RMB/T, unchanged from the previous day.
(1RMB=0.1465USD) | source www.worldscrap.com
