SHANGHAI, Aug. 20 (SMM) – SHFE copper prices posted a modest growth on Thursday while spot prices held flat Aug. 19 in Shanghai. Speculators moved goods out to book profits and high-quality copper accounted for a large portion in market. Price offers of standard-quality copper and hydro-copper stayed firm. Price gap between various branded copper was small. Downstream buyers still purchased on need. Thus, trades were left muted in market.
Spot copper quoted at premiums of RMB 0-40/mt over SHFE 1509 copper. Traded prices were RMB 38,670-38,800/mt for standard-quality copper and RMB 38,690-38,830/mt for high-quality copper.