Shanghai Spot Copper Price Movement on Nov. 4

SHANGHAI, Nov. 4 (SMM) –Shanghai spot copper offers were quoted between discounts of negative RMB 100/mt and premiums of positive RMB 0/mt today. Traded prices for standard-quality copper were between RMB 58,800-59,150/mt, and RMB 58,900-59,250/mt for high-quality copper. As SHFE copper prices moved higher and combined with weak consumption on the spot market, cargo-holders of imported copper failed to maintain premiums but had to make offers at a discount to promote transactions and generate cash. In this context, cargo-holders of domestic copper were also unwilling to move goods, with traded prices struggling at RMB 59,000/mt between market suppliers and buyers.