Spot copper in Shanghai was quoted at a discount of RMB 0-40/mt and premium of RMB 0-80/mt over SHFE 1307 copper contract prices on Friday. Traded prices for standard-quality copper were between RMB 50,050-50,200/mt, and RMB 50,130-50,350/mt for high-quality copper. SHFE copper moved trimmed almost 1.5% after a low opening, driving spot copper suppliers to sell at highs. Traders held offers firm towards mid-day as SHFE copper stopped falling. High-quality copper continued to gain favor, but the increase in premium was limited. Downstream producers increased purchases only slightly for the coming weekend. In the afternoon, trading activity in spot copper market was more brisk, with premiums up to RMB 0-100/mt and traded prices at RMB 50,050-50,250/mt. SHFE copper inventories fell sharply 9,472 lots to 173,021 lots. Some holders of imported copper in urgent need of cash flow lower premiums, especially for hydro copper, to promote sales. In this context, some downstream buyers purchasing as needed favored low-priced resources, driving down copper inventories.