SHFE Spot Copper Price Movement on Aug. 18

SHANGHAI, Aug. 18 (SMM) –Spot copper offers were quoted between premiums of positive RMB 0-150/mt today. Trade prices for standard-quality copper were between RMB 67,100-67,300/mt in the morning business, and RMB 67,150-67,450/mt for high-quality copper. SHFE copper prices rallied rapidly after falling down, with the price difference reaching RMB 400/mt, prompting traders to move goods for cash generation in the morning session, and dragging down copper premiums. Downstream producer’s buying interest was dampened again as SHFE copper prices increased, and market transactions were less active compared to the previous trading day.