SHANGHAI, Aug. 27 (SMM) – On Thursday, spot copper traded at discounts of RMB 20-80/mt over SHFE 1509 copper in Shanghai market. Standard-quality copper quoted RMB 38,800- 39,000/mt and RMB 38,840 -39,060/mt for high-quality copper.
SHFE copper fell back following a rally. Less producers entered market late this month. Some hedged copper flowed into market and thus spot copper was throwed into discounts. Some buyers went bargain hunting then. Standard-quality copper quoted the same as high-quality copper while hydro-cooper prices held firm. Downstream buyers purchased to need.