Shanghai Spot Copper Price Movement on Sept. 6

SHANGHAI, Sept. 6 (SMM) –Shanghai spot copper offers were quoted between premiums of positive RMB 20-70/mt today. Trade prices for standard-quality copper were between RMB 66,950-67,200/mt in the morning business, and RMB 67,050-67,350/mt for high-quality copper. Copper circulating in the market increased obviously, as copper for hedge trading came on the markets, and since imported copper arrived in due to previous quotation pricing. Hence, spot copper premiums failed to increase, even if SHFE copper prices moved lower after a low open. Downstream producers made purchases on an as-needed basis, keeping market transactions weak.