Shanghai Spot Copper Price Movement on Nov. 17

SHANGHAI, Nov. 17 (SMM) –Shanghai spot copper offers were quoted between premiums of positive RMB 500-650/mt today. Traded prices for standard-quality copper were between RMB 57,300-57,650/mt, and RMB 57,400-57,650/mt for high-quality copper. Although SHFE copper prices moved higher after a low open, a significant drop in copper supply, especially high-quality copper supply, helped cargo-holders quote high copper premiums on the spot market. However, downstream producers still kept cautious towards purchases.