SHANGHAI, Aug. 10 (SMM) – Spot copper settled at a discount of RMB 20-70/mt against SHFE 1508 copper in Shanghai on Monday. Mainstream prices were RMB 38,180-38,240/mt for standard-quality copper and RMB 38,190-38,280/mt for high-quality copper.

Standard-quality and high-quality copper prices were lowered to excite trades and price gap between them disappeared. However, hydro-copper prices stayed firm thanks to shortage in supply. Few downstream buyers entered market early this week. Trades were thus mainly made between traders.