SHANGHAI, Nov. 5 (SMM) – Spot copper offers were discounts of negative RMB 40/mt and premiums of positive RMB 60/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 55,650-55,880/mt, and RMB 55,700-55,950/mt for high-quality copper. SHFE copper prices slumped by RMB 1,000/mt, so copper discounts narrowed and turned to premiums for high-quality copper. A small number of traders chose to buy, but markets resisted premiums, which failed to increase even after copper prices dipped all the way. With market pessimism increasing, buying did not increase noticeably at the lows as most market participants remained cautious during the first trading day of the week.