Shanghai Spot Copper Price Movement on Dec. 5

SHANGHAI, Dec. 5 (SMM) –Shanghai spot copper offers were quoted between premiums of positive RMB 50-180/mt today. Traded prices for standard-quality copper were between RMB 58,400-58,550/mt, and RMB 58,500-58,650/mt for high-quality copper. Although SHFE copper prices moved lower after a high open, copper supply increased since imported copper arriving at Chinese ports rose at the weekend, causing cargo-holders to actively move goods at high price levels and copper premiums to fall. Downstream producers still stayed out of the market, while hedge trading by traders was restricted, leaving market in a surplus again.