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As SHFE copper prices extended gains, market supply remained limited, with hydro-copper barely found in the market. In response, cargo holders moved goods at higher premiums, and turned unwilling to trade to hold prices firm. Prices for standard-quality copper stood firm due to tight supply, and drew closer to those for high-quality copper. Middlemen entered the market to buy low-price goods, further cutting into supply, and downstream producers stepped up purchases ahead of the weekend, with trading activity improving significantly.
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