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[Cu Price]Spot Copper offered at Discounts in Shanghai (Aug. 4, 2015)
Aug 4, 2015 13:20Spot premiums were offered at RMB 30-100/mt over SHFE 1508 copper in Shanghai On Tuesday.
SHANGHAI, Aug. 4 (SMM) – Spot copper were offered at discounts of RMB 30-100/mt against SHFE 1508 copper in Shanghai On Tuesday. Traded prices were RMB 38,250-38,470/mt for standard-quality copper and RMB 38,270-38,530/mt for high-quality copper.
SHFE copper prices continued falling trend today and spot copper premiums remained low. Wait-and-see sentiment loomed market. Imported copper kept increasing. Cargo holders rushed to sell, throwing spot copper into discounts. Some traders hunted cheaper copper for term contract. As a whole, trades were weaker than August 3. Growing supply may send spot premiums down further.
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