Shanghai Spot Copper Price Movement on Nov. 11

SHANGHAI, Nov. 11 (SMM) –Shanghai spot copper offers were quoted between premiums of positive RMB 0-150/mt today. Traded prices for standard-quality copper were between RMB 56,300-56,500/mt, and RMB 56,400-56,600/mt for high-quality copper. Although SHFE copper prices moved higher, spot copper premiums sustained, with high-quality copper dominating the market. As SHFE copper prices climbed too quickly, spot copper premiums fell, restricting market transactions for standard-quality copper. Despite increases in market purchases, copper supply was sufficient due to the slightly rising SHFE/LME copper price ration, and cargo-holders were actively moving goods, resulting in market surpluses.