SHFE Spot Copper Price Movement on Aug. 16

SHANGHAI, Aug. 16 (SMM) –Spot copper offers were quoted between premiums of positive RMB 80-200/mt today. Trade prices for standard-quality copper were between RMB 66,850-66,950/mt, and RMB 66,950-67,200/mt for high-quality copper. As SHFE copper prices fell back, prices below RMB 67,000/mt attracted downstream producers to make purchases, helping cargo-holders push up premiums. As a result, copper premiums for high-quality copper expanded rapidly, but standard-quality imported copper failed to increase premiums, expanding the price gap between the two. Market transactions were brisk.