Shanghai Spot Copper Price Movement on Nov. 21

SHANGHAI, Nov. 21 (SMM) –Shanghai spot copper offers were quoted between premiums of positive RMB 600-700/mt today. Traded prices for standard-quality copper were between RMB 56,600-56,750/mt, and RMB 56,700-56,900/mt for high-quality copper. As SHFE copper prices continued to fluctuate widely around the daily moving average, spot copper premiums remained high. Prices for high-quality copper held firm due to limited supply, but premiums for imported hydro-copper fell since cargo-holders were actively moving goods, increasing the price gap between high-quality and standard-quality copper prices. Market purchases were limited on Monday. Some cargo-holders insisted on high copper premiums, but downstream producers were pessimistic about future copper prices.