Shanghai Spot Copper Price Movement on Nov. 1

SHANGHAI, Nov. 1 (SMM) –Shanghai spot copper offers were quoted between premiums of positive RMB 20-120/mt today. Traded prices for standard-quality copper were between RMB 59,300-59,650/mt, and RMB 59,350-59,750/mt for high-quality copper. SHFE copper prices moved higher after a low open and then fell back again, but spot copper premiums remained stable. Copper supply remained sufficient. Despite the first day of November, some capitals in some banks were still frozen, which caused SHFE copper prices to experience fluctuations. As a result, downstream producers had little interest in purchasing, resulting in moderate market transactions, with wait-and-see sentiment growing.