Shanghai Spot Copper Price Movement on Nov. 10

SHANGHAI, Nov. 10 (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 55,750-56,000/mt, and RMB 55,850-56,150/mt for high-quality copper. As SHFE copper prices slumped by more than 6% and fell by their daily limit in the session, spot copper premiums expanded. Cargo-holders of hedged copper were eager to move goods, with low-quality copper dominating the market. Traders’ purchasing interest was dampened by high spot copper premiums, while downstream producers slightly increased purchases, which helped promote market transactions.