Shanghai Spot Copper Price Movement on Nov. 2

SHANGHAI, Nov. 2 (SMM) –Shanghai spot copper offers were quoted between premiums of positive RMB 100-200/mt today. Traded prices for standard-quality copper were between RMB 58,150-58,250/mt, and RMB 58,200-58,450/mt for high-quality copper. As SHFE copper prices remained weak and copper supply was sufficient, increases in spot copper premiums were very limited. Downstream producers had little interest in purchasing, and market transactions were mainly made by traders, indicating wait-and-see sentiment in the market.