SHFE Spot Copper Price Movement on Aug. 25

SHANGHAI, Aug. 25 (SMM) –Spot copper offers were quoted between premiums of positive RMB 50-120/mt today. Trade prices for standard-quality copper were between RMB 66,950-67,050/mt in the morning business, and RMB 67,000-67,100/mt for high-quality copper. SHFE copper prices continued to test RMB 67,000/mt, but lacked the momentum. Imported copper increased gradually, as cargo-holders were eager to move goods for cash generation along with the approach of the month-end, causing copper premiums to fall further. The increases in low-quality copper also depressed transactions for high-quality copper. Market supply still exceeded market demand.