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In the spot market, cargo-holders continued to be optimistic about future copper prices as SHFE copper prices continued to rebound despite more severe fluctuations, helping copper discounts narrow between negative RMB 250-80/mt in the morning business. Traded prices for standard-quality copper were between RMB 60,250-60,700/mt, and RMB 60,350-60,850/mt for high-quality copper. Speculative activity was active during the whole trading day, and downstream producers also became more willing to purchase, resulting in brisk market activity. In the afternoon session, SHFE copper prices fell slightly, but spot copper quotations held stable, causing copper discounts to remain virtually unchanged from the morning business levels. Traded prices in the afternoon business were also basically flat with the morning session levels, but supply decreased.
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