Shanghai Spot Copper Price Movement on Nov. 3

SHANGHAI, Nov. 3 (SMM) –Shanghai spot copper offers were quoted between premiums of positive RMB 0-120/mt today. Traded prices for standard-quality copper were between RMB 58,100-58,350/mt, and RMB 58,150-58,400/mt for high-quality copper. SHFE copper prices continued to fall, but spot copper supply kept sufficient since cargo-holders were active in moving goods, restricting spot copper premiums to move higher. Downstream producers still made purchases on an as-needed basis, while traders kept cautious towards speculative activity, leading to sluggish market transactions.