SHANGHAI, Aug. 7 (SMM) – In Shanghai market, spot copper quoted between a discount of RMB 60/mt and a premium of RMB 10/mt Friday. Traded prices were RMB 38,240-38,320/mt for standard-quality copper and RMB 38,260-38,380/mt for high-quality copper.
SHFE copper rebounded from low. Market was mainly filled with high-quality copper. Cargo holders rushed to sell late this week, sending high-quality copper into discounts. However, standard-quality copper and hydro-copper prices held firm due to a shortage. Spot supply was sufficient as a whole. Traders’ buying interest decreased while downstream buyers purchased on need, leaving trades muted.