SHFE Spot Copper Price Movement on Aug. 30

SHANGHAI, Aug. 30 (SMM) –Spot copper offers were quoted between discounts of negative RMB 170-80/mt today. Trade prices for standard-quality copper were between RMB 68,150-68,250/mt in the morning business, and RMB 68,200-68,350/mt for high-quality copper. SHFE copper prices moved higher after a high open, and spot copper prices stood at RMB 68,000/mt. Imported copper gradually increased, and cargo-holders were eager to generate cash at expanded discounts. Markets were mixed towards the copper outlook, so those optimistic took the advantage of discounts to make purchases, while downstream producers were cautious towards trading due to doubts about continuous rebounds in copper prices.