SHANGHAI, Aug. 21 (SMM) – Spot copper traded between discounts of RMB 30/mt and premiums of RMB 30/mt in Shanghai on Friday. Trades prices were RMB 39,130-39,180/mt for standard-quality copper and RMB 39,150-39,230/mt for high-quality copper.
Cargo holders moved goods out to book profits. Spot premiums narrowed modestly while spot discounts on standard-quality copper appeared. Some traders sourced cheap copper. Meanwhile, downstream buyers purchased as needed. Spot supply stayed sufficient in market and price gap between different brands remained small.