Shanghai Spot Copper Price Movement on Sept. 26

SHANGHAI, Sept. 26 (SMM) –Shanghai spot copper offers were quoted between premiums of positive RMB 150-250/mt today. Traded prices for standard-quality copper were between RMB 55,850-56,000/mt, and RMB 55,900-56,200/mt for high-quality copper. SHFE copper prices continued to fall by more than 3%, while LME copper prices rebounded slightly in the morning business. In this context, the SHFE/LME copper price ratio improved, creating profit opportunities for copper imports. Spot copper premiums fell since cargo-holders were eager to move goods for cash generation, but both traders and downstream producers were still cautious towards purchases, preferring to wait until a stable price trend was visible.